Answer based on what I read somewhere, can't recall the source. Adds to previous answers:

Two tasks:

1. Restore icons_metadata file:

   1. Within Android Studio click on the Tools >> SDK Manager option.

   2. Copy the SDK location and open it in file explorer.

   3. Go to Icons >> Material

   4. Delete icons_metadata.txt

   5. In Android Studio - Right click on drawable (app >> res >> drawable) >> new >> vector asset >> select clipart >> cancel.

   6. This should restore the icons_metadata.txt file in the folder we opened earlier. Go to next step.

2. Make icons_metadata read-only to prevent unintended changes in the future.

PS: I'm not sure if making the file read-only would interfere with future updates. Maybe someone who's on an older version can try and add to comments - I'll update accordingly.