Android Studio stops working/freezes after updating to Kotlin 1.4.0

Question

Tested Android Studio Versions: 4.0, 4.1, 4.2 Tested Kotlin Versions: 1.4.0, 1.4.10
Tested Gradle Plugin Versions: 4.0.1, 4.1.0
on macOS 10.15.6 Catalina