Error related to resources_ap after upgrading to Android Studio 3.4

I upgraded Android Studio 3.4 today. I am no longer able to run the the app. I have cleaned the project, restarted Android studio many times. I have also invalidated cache to no avail. I am getting the following error when installing the app:

FAILURE: Build failed with an exception.

* What went wrong:
Execution failed for task ':app:transformDexWithInstantRunSlicesApkForDebug'.
> java.lang.RuntimeException: java.io.FileNotFoundException: E:\...\app\build\intermediates\instant_run_split_apk_resources\debug\instantRunSplitApkResourcesDebug\out\slice_1\resources_ap

Could anyone offer a tip on how to remedy this?

Edit: I have two projects with different behaviors related to this issue:

1. Project A initially had this issue. I disabled Instant Run per the answer, the problem was solved. I enabled Instant Run later, and Project A is still working fine.
2. Project B also had this problem that has been remedied by turning of Instant Run. However, its problem will occur as soon as Instant Run is turned on. I do not what difference between these two projects results in this. One suspect is library C project. Library C is a part of Project A (i.e. its source code, resources are in Project A). However, Project B uses the aar of Library C as a module.

Switching off Instant Run as a workaround (File/Settings/Instant Run) seems to eliminate the problem.

According to OP it is possible to turn Instant Run back on without the problem recurring for some projects.