[Solved] Android studio error - Connect to 169.254.1.1:10809[/169.254.1.1] failed: Connection timed out: connect

In my situation, I encountered an issue due to my system being configured with an HTTP proxy. I discovered certain settings in the "gradle.properties" file (Global properties) that may not exist in all projects. However, to access these settings, navigate to the root directory of your Android Studio installation. By removing the mentioned settings (listed below), I was able to resolve the error.

Hence I deleted this;

systemProp.http.proxyHost=169.254.1.1
systemProp.https.proxyHost=169.254.1.1
systemProp.https.proxyPort=10809
systemProp.http.proxyPort=10809