Under the previous naming scheme, it would have been called Android Studio 4.3.
Therefore, AGP 7.0 will be the next release after AGP 4.2.
Compatibility between Android Studio and Android Gradle plugin remains unchanged.
Projects that use stable versions of AGP can be opened with newer versions of Android Studio.
However, for production-quality apps, it is recommended that you use theStable release of Android Studio.
source: www.techworm.net