This version of Android Studio cannot open this project, please retry with Android Studio 3.4 or newer

This version of Android Studio cannot open this project, please retry with Android Studio 3.4 or newer.

but my android studio version is 3.2.1 and there is no new update from Google

Try to edit your project build.gradle file and set the android build gradle plugin to classpath 'com.android.tools.build:gradle:3.2.1' within the dependency section.

See also the documentation of the android grade plugin

It's a bit late, But easy and effective. Click on About Android Studio, Check the current version, Open build.gradle of Project and put it in front of the class path. e.g Your studio version is 3.5.2, then your classpath should look like this

classpath 'com.android.tools.build:gradle:3.5.2'

You would need to lower your gradle version and android plugin version, or you can download latest version from beta or canary update channels.

To enable updates from other channels go to Help -> Check for Updates -> Congifure automatic updates and in that dialog select channel you want. After selecting check for update again and it will show you latest version.