Hyper-V connect to local computer throws an error - virtual machine management service

I managed to solve the problem.

Main reason behind this issue: Hyper-V Host Compute Service service fails to start with an error message quoted from Event Viewer:

The Hyper-V Host Compute Service service failed to start due to the following error: The service did not respond to the start or control request in a timely fashion.

So I followed the steps in Hyper-V Manager unable to connect to server "Local computer" solution. Please ensure you run Powershell as an administrator.

After that, I manually start:

• Hyper-V Virtual Machine Management
• Hyper-V Host Computer Service

When I start Hyper-V Manager, I successfully connect to Local Computer.