React Native: Failed to launch emulator - "The emulator quit before it finished opening"

I'm encountering an issue while trying to run my React Native project on Android using npx react-native run-android. The error message I'm receiving is:

Failed to launch emulator. Reason: The emulator quit before it finished opening. You can try starting the emulator manually from the terminal with: emulator @INFO | Storing crashdata in: /tmp/android-mypc/emu-crash-34.1.18.db, detection is enabled for process: 21525.

I've tried running the emulator manually as suggested, but I'm still facing the same problem. Can anyone help me understand what might be causing this issue and how to resolve it?

I'm using a macOS system.

To run your app on an Android Emulator, follow these two steps:

1. Launch the Emulator - emulator @name_of_device
2. Run the app - npx react-native run-android

To get the @name_of_device open Android Studio - Device Manager, use AVD name with "_" in the spaces

For example

Command will be - emulator @Pixel_8_Pro_API_35