THE SHORT ANSWER:
Disable Microsoft Defender Application Guard
None of the answers helped me. Also, most of the answers here were addressed elsewhere online. I spent hours trying to solve this problem. After much hesitation, I decided to go on a hunch. I was suspicious about msinfo32.exe showing a Hypervisor was running, but it would not provide additional detail. I went into the services manager. I saw an instance of a hypervisor service was running, I went to disable it. Before disabling, I was asked if I am sure and was informed that a couple of other services would stop. One of the other services was Microsoft Defender Application Guard for Internet Explorer. I disabled this and FINALLY after hours of research on this topic was able to install Intel HAXM for Android Studio on my i5-4430 with Z87 chipset.
It was not enough to merely disable Hyper V and Windows Hypervisor Platform.