Android Studio Emulator gets killed on Mac OS 10.11.6

Question

Issue: Emulator gets killed and do not get launched

What I have: Mac El Capitain 10.11.6 Updated to Android Studio 4.0

Things I've tried:

1. "Mac OS X (such as 10.9), then you may need to use an older version of HAXM (6.1.2)". As Android Studio Developers help page suggests, I've tried to look for HAXM older than v7.0.0 on Github but could not find it, and installing v7.0.0 did not fix the issue either.

2. Syncing Gradle did not fix the issue

3. Clearing cache did not fix the issue

4. Changing graphics to "Software" did not fix the issue

5. Checked relevant SDK is intalled (built for 29 and chose 29)

Would anyone know how to fix this?