It’s a common issue with Xbox wired controller. In my case it was a damaged little part of the wire that was causing the random disconnect. Below are the steps to fix it.

1. Find the damaged part of the wire and cut that part with scissors.
2. Remove the outer rubber sheathing and underneath you’ll find foil and a silver wire mesh, remove it too.
3. Now you can see 4 different coloured thin wires (Black,Red,Green,White), remove some part of their outer rubber covering.
4. Now twist the same colour wire from one end to the other end.
5. Tape the four wires differently so that their inner covering doesn’t touch each other.
6. Now tape the whole part tightly and get back to gaming.

If you can’t find the damaged part then you can follow this tutorial to solder a new cable to your Xbox controller circuit board.