Faced this issue on Android studio 4.1, windows 10.
The solution that worked for me:
1 - Go to gradle.properties file which is in the root directory of the project.
2 - Comment this line or similar one (org.gradle.jvmargs=-Xmx1536m) to let android studio decide on the best compatible option.
3 - Now close any open project from File -> close project.
4 - On the Welcome window, Go to Configure > Settings.
5 - Go to Build, Execution, Deployment > Compiler
6 - Change Build process heap size (Mbytes) to 1024 and VM Options to -Xmx512m.
Now close the android studio and restart it. The issue will be gone.