DESCRIBE THE ISSUE IN DETAIL: The -http-proxy command line parameter is not parsed correctly no matter what format I use - it uses an empty string as a hostname/ip and fails to connect. The port is parsed correctly. Formats I tried:

127.0.0.1:8888
http://127.0.0.1:8888
localhost:8888
1.2.3.4:8080

STEPS TO REPRODUCE:

emulator.exe -avd Pixel_3a_API_34_extension_level_7_x86_64 -http-proxy 127.0.0.1:8888 -verbose -debug-proxy
Check the console log
See the lines:

DEBUG   | setting up http proxy: proxy= port=8888
server name '' resolved to 10.13.13.5:8888
WARNING | Could not connect to proxy at :8888: timed out !
WARNING | Proxy will be ignored !

Studio Build: Android Studio Hedgehog | 2023.1.1; Build #AI-231.9392.1.2311.11076708, built on November 9, 2023
Android emulator version: 33.1.23.0 (build_id 11150993) (CL:N/A)
OS: Windows 11

Note: I tried to create the issue in "Android Studio > Emulator" component but got "You do not have permission to create issues in this component."