Have adb.exe at specified location but still have "adb.exe is obsolete and has serious performance problems" dialog box

Issue

I have the adb.exe at "../AppData\Local\Android\Sdk\platform-tools\adb.exe" and even checked the virus chest of antivirus everything is fine.
But still get the dialogue box saying

"adb.exe is obsolete and has serious performance problems".

Solution

What worked out for me was after

• Create Virtual Device
• Choose a device
• select Q API Level 29 image with target as Android 10.0 (Google APIs)
  not just Android 10.0

and proceed as usual.

Hope its useful for you!

Answered By - LST