Why are my files still being 'Analyzed' in Android studio, intellisense and autosuggest doesnt seem to work

For this particular project, Android studio just shows analyzing files, doesn't show any errors and the IntelliSense is also not auto-suggesting. I have tried to invalidate cache/ restart, checked that android studio is not in power mode, and also deleted the project locally and cloned it again, what can be the issue?

It was working fine till 2 days ago but today when I opened the app and tried to build it and make some changes to a few files, it just wont work. I am on Android Studio 4.2.1 on macOS Big Sur 11.2.1

If I create a new project the studio is working fine but just for this project its not working

Here are the screenshots

Any help is much appreciated! Thanks!!

I have posted the same answer in another post, you can take the reference from the below link.

https://stackoverflow.com/a/67984260/11414681

You just need to Upgrade the latest kotlin version.

1. Upgrade the dependency in the project's build.gradle file.

    classpath "org.jetbrains.kotlin:kotlin-gradle-plugin:1.5.10"
   

2. Upgrade the dependency in the app's build.gradle file.

    implementation "org.jetbrains.kotlin:kotlin-stdlib:1.5.10"