On my machine emulator seems to be running without GPU acceleration when launched from Visual Studio Code or AVD event when I configure hardware acceleration as follows:

But I when I launch it from command line with -gpu host argument rendering performance increases dramatically.

Android documentation at https://developer.android.com/studio/run/emulator-acceleration says:

By default, the emulator decides whether to use hardware or software graphics acceleration based on your computer setup. If your GPU hardware and drivers are compatible, the emulator uses the GPU. Otherwise, the emulator uses software acceleration (using your computer's CPU) to simulate GPU processing.

If you start the emulator from the command line, you can also override the graphics acceleration setting in the AVD for that virtual device instance.

I am not sure if this is some issue with Android emulators / AVD on my machine or it is something that could help other users too and might be implemented in Dart Code?..