Hey Akash,
This happens due to the number of characters used to reach the identified file.
You can start trying to change the name of your project folder to something smaller:
From Deloitte_Shexo-branch_Sprint1 to Shexo.
If it doesn't work, keep the new project name and move the project from that folder:
Current location: C:/Users/agunupudi/Mendix/
New location: C:/Users/agunupudi or C:/
I hope it helps,
Click to mark as "accepted" if this solution resolved your issue.
Ricardo Pereira