The Material Components Library introduced with the 1.2.0-alpha03 the new ShapeableImageView.
In your layout you can use:
 <com.google.android.material.imageview.ShapeableImageView
      android:id="@+id/image_view"
      app:srcCompat="@drawable/..." />
Then in your code apply the ShapeAppearanceModel to define your custom corners:
