Detox Test command fails with network requests error #2665

I'm using detox with following config:

"react": "16.13.1", "react-native": "0.63.4" "detox": "^18.6.2", "jest": "^26.6.3", "jest-circus": "^26.6.3"

detox build command runs perfectly, but detox test fails with the following error:

detox[13327] INFO:  [DetoxServer.js] server listening on localhost:59074...
detox[13327] INFO:  Example is assigned to emulator-17544 (Pixel_API_28_AOSP)
detox[13327] INFO:  Example: should have welcome screen
detox[13327] INFO:  Example: should have welcome screen [FAIL]

detox[13327] WARN:  [Client.js/PENDING_REQUESTS] App has not responded to the network requests below:
  (id = -1000) isReady: {}

Unresponded network requests might result in timeout errors in Detox tests.

 FAIL  e2e/firstTest.e2e.js
  Example
    ✕ should have welcome screen

  ● Example › should have welcome screen

    DetoxRuntimeError: Failed to run application on the device

    HINT: Most likely, your tests have timed out and called detox.cleanup() while it was waiting for "ready" message (over WebSocket) from the instrumentation process.

      at MonitoredInstrumentation._getInstrumentationCrashError (../node_modules/detox/src/devices/drivers/android/tools/MonitoredInstrumentation.js:68:12)
      at MonitoredInstrumentation._rejectPendingCrashPromise (../node_modules/detox/src/devices/drivers/android/tools/MonitoredInstrumentation.js:56:37)
      at MonitoredInstrumentation._onInstrumentationTerminated (../node_modules/detox/src/devices/drivers/android/tools/MonitoredInstrumentation.js:51:10)
      at Instrumentation._onTerminated (../node_modules/detox/src/devices/drivers/android/tools/Instrumentation.js:52:18)

detox[13326] ERROR: [cli.js] Error: Command failed: jest --config e2e/config.json --testNamePattern '^((?!:ios:).)*$' --maxWorkers 1 e2e

I think there is some issue with device.launchApp() as the app also doesn't gets launched!

My firstTest.e2e.js file:

describe('Example', () => {
  beforeAll(async () => {
    await device.launchApp();
  });

  beforeEach(async () => {
    await device.reloadReactNative();
  });

  it('should have welcome screen', async () => {
    await expect(element(by.id('EditTextId'))).toBeVisible();
  });
});