Android Studio: AVD options give the error "The skin directory does not point to a valid skin", but only when editing the virtual device

In Android Studio (Arctic Fox | 2020.3.1 Patch 1), the initial creation and subsequent launch of a new virtual device in the emulator completes without any issues and the device frame shows properly. However, when opting to edit the virtual device, an error pops up briefly at the bottom of the window saying, "The skin directory does not point to a valid skin," and the Enable Device Frame option becomes un-ticked. If you cancel out of the Android Device Configuration window, the skin will still load correctly. If you check the Enable Device Frame checkbox and select the Finish button, the emulator will load without a skin. Going back to the device’s option page shows that the Enable Device Frame checkbox has once again become un-ticked. Is this a bug and/or is there a workaround to this? I want to boot from a particular snapshot each time the emulator loads, but cannot do that without accessing the option page (whereby the skin will disappear once I finalize my option selection.)