In Android Studio Go to File -> New -> Image Asset -> Then browse your launcher icon which you want to use and click next to finish the process. Try to use 1024x1024 size image or at least 512px . See the picture below for clear understanding.
Step 1: Go to File -> New -> Image Asset
Step 2: Then Choose your launcher image and click next to finish the process it will replace your current launcher image. See the image for other setting also like you must select Icon Type: Adaptive and Legacy
