In UTM.app, install a fresh copy of macOS 26.3, install Android Studio Panda 1 | 2025.3.1 Patch 1, launch it with standard configuration. That will install an Android SDK in ~/Library/Android/sdk, including platform-tools/adb and emulator/emulator, but it won't add them to your $PATH.
dfabulich@Dans-Virtual-Machine ~ % skip android emulator list
Error: posix_spawn error: No such file or directory (2), `["emulator", "-list-avds"]`
dfabulich@Dans-Virtual-Machine ~ % PATH=$PATH:/Users/dfabulich/Library/Android/sdk/emulator skip android emulator list
Medium_Phone_API_36.1
In UTM.app, install a fresh copy of macOS 26.3, install Android Studio Panda 1 | 2025.3.1 Patch 1, launch it with standard configuration. That will install an Android SDK in
~/Library/Android/sdk, includingplatform-tools/adbandemulator/emulator, but it won't add them to your$PATH.