UPD: Fixed in 2021.1.1 patch 1, see release notes here
This might happen because AndroidStudio doesn’t know anything about $PATH provided in ~/.*rc files (.bashrc,.zshrc, etc.)
You can ensure by launching it from terminal:
open /Applications/Android\ Studio.app
EDIT: It’s a confirmed bug in Bumblebee release
The workaround is to add missing flag:
chmod +x /Applications/Android\ Studio.app/Contents/bin/printenv
You have to do it only once