big sur – Android Studio emulator not launching on macOS (Big Sur)

macOS Big Sur 11.1, Android Studio 4.1.2

Based on some similar issues I found online, I attempted to uninstall and reinstall Intel x86 Emulator Accelerator (HAXM installer)from Android Studio itself. But also got an error:

Installation did not complete successfully. See the IDE log for details

Where can I find the IDE log and what is the possible solution that will fix the emulator issue?