First check the two steps mentioned below

i) Task Manager > Performance and check if “Virtualization” is enabled.

ii) Control panel > Turn Windows Features On/Off and check if HyperV is not enabled

Then run the following commands

>> dism.exe /Online /Disable-Feature:Microsoft-Hyper-V

>> bcdedit /set hypervisorlaunchtype off

You will need to restart the system for the changes to happen

After restart, Open Android Studio > Configure > SDK Manager and now you should be able to setup HAXM in your windows system.

To reset back to normal (incase if there are other issues in the system)

>> dism.exe /Online /Enable-Feature:Microsoft-Hyper-V /All

>> bcdedit /set hypervisorlaunchtype auto