I try to generate new launcher icon for my android project. I am taking png icon 512x512 and through Android Studio I am converting it New->Image Asset->(Launcher Icons Adaptive
Generate Icon Via Android Studio
Right click on app > Go to Image Assets > Choose icon type and other properties > Click next and finish.
Here you can generate all icon shapes and replace with new easily. If you choose icon type as adaptive and legacy it will generate both square shaped and round shaped. And replace with existing icons on finishing with the steps.
Generate Via Online