I'm answering/closing this issue, as I don't think my issue is IDE related. I believe it to be hardware related.

So in addition to the above error, I have also seen a message in the logs about my graphics driver perhaps not fully supporting vulkan. My laptop is on the older side, and although setting a higher memory setting in the IDE (help -> change memory settings) bated this issue for a little while, it came back in about a day.

So in my specific case, updating hardware might be the solution for intellij 2023.3 and up. I would be curious to hear though if anyone else running an old machine is having issues running emulators on this version or newer.