Could not resolve all files for configuration ':classpath'. Android Studio Update

Question

I Just updated Android Studio. I now cannot load any of my Projects.

I get the below error

A problem occurred configuring root project 'Test'.
> Could not resolve all files for configuration ':classpath'.
   > Could not resolve com.android.tools.build:gradle:7.4.2.
     Required by:
         project : > com.android.application:com.android.application.gradle.plugin:7.4.2
         project : > com.android.library:com.android.library.gradle.plugin:7.4.2
      > No matching variant of com.android.tools.build:gradle:7.4.2 was found. The consumer was configured to find a runtime of a library compatible with Java 8, packaged as a jar, and its dependencies declared externally, as well as attribute 'org.gradle.plugin.api-version' with value '7.4.2' but:
          - Variant 'apiElements' capability com.android.tools.build:gradle:7.4.2 declares a library, packaged as a jar, and its dependencies declared externally:
              - Incompatible because this component declares an API of a component compatible with Java 11 and the consumer needed a runtime of a component compatible with Java 8
              - Other compatible attribute:
                  - Doesn't say anything about org.gradle.plugin.api-version (required '7.4.2')
          - Variant 'javadocElements' capability com.android.tools.build:gradle:7.4.2 declares a runtime of a component, and its dependencies declared externally:
              - Incompatible because this component declares documentation and the consumer needed a library
              - Other compatible attributes:
                  - Doesn't say anything about its target Java version (required compatibility with Java 8)
                  - Doesn't say anything about its elements (required them packaged as a jar)
                  - Doesn't say anything about org.gradle.plugin.api-version (required '7.4.2')
          - Variant 'runtimeElements' capability com.android.tools.build:gradle:7.4.2 declares a runtime of a library, packaged as a jar, and its dependencies declared externally:
              - Incompatible because this component declares a component compatible with Java 11 and the consumer needed a component compatible with Java 8
              - Other compatible attribute:
                  - Doesn't say anything about org.gradle.plugin.api-version (required '7.4.2')
          - Variant 'sourcesElements' capability com.android.tools.build:gradle:7.4.2 declares a runtime of a component, and its dependencies declared externally:
              - Incompatible because this component declares documentation and the consumer needed a library
              - Other compatible attributes:
                  - Doesn't say anything about its target Java version (required compatibility with Java 8)
                  - Doesn't say anything about its elements (required them packaged as a jar)
                  - Doesn't say anything about org.gradle.plugin.api-version (required '7.4.2')

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Answer 1

I just had same problem. This is how i fixed it

Set your gradle/wrapper/gradle-wrapper.properties to 7.4 like this
distributionUrl=https\://services.gradle.org/distributions/gradle-7.4-bin.zip

and your build.gradle to version 7.3.0

plugins {
    id 'com.android.application' version '7.3.0' apply false
    id 'com.android.library' version '7.3.0' apply false

Add1: Take in mind that this is temporary solution. Issue was reported to Android studio issue-tracker multiple times and one user came with this solution.
I do credit the user who found the solution here : https://issuetracker.google.com/issues/274681084