Unable to attach debugger in Android Studio in MacBook

I am unable to attach debugger in Android Studio in MacBook. I am getting this error

Failed to start monitoring <deviceID>

I have tried multiple solutions :

1. Turn on/off usb debugging on device
2. Invalidate cache/restart Android Studio & Build -> Clean project
3. Stop and start adb server from terminal
4. Changing cable/usb port
5. Reboot Android device, Mac
6. Reset Android device
7. Upgrade gradle plugin & Android Studio to new version

Setup: Macbook, Android Studio 4.2, Pixel 3a Android 11

OnDevice USB Preferences:

• USB Controlled by: This Device
• Use USB For: No Data transfer

I was able to work with the debugger fine for a very long time (~8 months) but it stopped abruptly few days ago and did not have any luck since then.

I have tried various solutions from stackoverflow, medium most of them fall under the things I have tried above and I have observed that the solutions are for Windows machines, so wondering if there is anything different for Android Studio on Macbook?

Appreciate your time looking into this. Thanks in advance.