Android studio fails with "Couldn't terminate previous instance of app" on building device-owner app

I’m building an app which will be set as a device-owner of the tablet. The tablet is a custom kiosk type device. To set the app as a device owner, I’ve done the following:

1. Added permissions :

<uses-permission android:name="android.permission.MANAGE_DEVICE_ADMINS" />
<uses-permission android:name="android.permission.BIND_DEVICE_ADMIN" />

2. Added Config :

<receiver
    android:name=".utils.MyDeviceAdminReceiver"
    android:exported="true"
    android:permission="android.permission.BIND_DEVICE_ADMIN">
    <intent-filter>
        <action android:name="android.app.action.DEVICE_ADMIN_ENABLED" />
    </intent-filter>

    <meta-data
        android:name="android.app.device_admin"
        android:resource="@xml/policies" />
</receiver>

3. Created policy file :

<?xml version="1.0" encoding="utf-8"?>
<device-admin xmlns:android="http://schemas.android.com/apk/res/android">
    <uses-policies>
        <force-lock />
        <reset-password />
    </uses-policies>
</device-admin>

4. And finally, added an empty device admin receiver:

package com.homeapp.utils

import android.app.admin.DeviceAdminReceiver
import android.content.Context
import android.content.Intent
import android.widget.Toast

class MyDeviceAdminReceiver : DeviceAdminReceiver() {}

And after building the app via android studio, I set the app to device owner using this command:

adb shell dpm set-device-owner com.homeapp/com.homeapp.utils.MyDeviceAdminReceiver

And also recieved a success:

Success: Device owner set to package com.homeapp/com.homeapp.utils.MyDeviceAdminReceiver
Active admin set to component com.homeapp/com.homeapp.utils.MyDeviceAdminReceiver

After home app has been set, now when I try to build the app from android studio, it fails with this error :

Couldn't terminate previous instance of app

I found this thread but the solutions mentioned on it didnt work:
https://issuetracker.google.com/issues/181004316

How to resolve this?