Issue setting up Android Studio

I am getting the error to reinstall HAXM even though I’m pretty sure I’ve downloaded the latest one from here: Releases ยท intel/haxm (github.com) which is v7.8.0.

Reinstall HAXM

And if I click the ‘OK’ option and move forward with the process I get the below error, which is caused due to the space between my user first name and last name.
For example, if my name is ‘Jack Black’. The installer is only registering my first name while initializing such as ‘C:UsersJack’ and leaving out the last name due to the space between them.

HAXM installation failed

This is in windows and as far as I know, I am not able to change my username as first name only so as to mitigate this issue.