VS 2022: Unable to start process. Timeout waiting for child process to open named pipes

Question

I installed VS 2022 few days back and everything was working fine. Suddenly, I started getting the below error

Unable to start process. Timeout waiting for child process to open named pipes.

and since then not able to connect to my Git repo.

I tried Admin mode, repaired VS 2022, upgraded to 17.0.2. Nothing helped. Now its asking me to "clone the repo" every time I start my visual studio.

Sometime I also get the below message

On analyzing the XML log, I found below entry in it

<entry>
    <record>740</record>
    <time>2021/12/03 09:03:36.264</time>
    <type>Error</type>
    <source>VisualStudio</source>
    <description>LegacySitePackage failed for package [SccProviderPackage]Source: &apos;Microsoft.TeamFoundation.Git.Provider&apos; Description: Operation is not valid due to the current state of the object.&#x000D;&#x000A;System.InvalidOperationException: Operation is not valid due to the current state of the object.&#x000D;&#x000A;   at Microsoft.TeamFoundation.Git.Provider.SccServiceManager.CreateProviderServices(SccProviderPackage providerPackage, Boolean isInServerCommandLineMode, IEnumerable`1 toolWindowAttributes)&#x000D;&#x000A;   at Microsoft.TeamFoundation.Git.Provider.SccProviderPackage.Initialize()&#x000D;&#x000A;   at Microsoft.VisualStudio.Shell.Package.Microsoft.VisualStudio.Shell.Interop.IVsPackage.SetSite(IServiceProvider sp)</description>
    <guid>{7FE30A77-37F9-4CF2-83DD-96B207028E1B}</guid>
    <hr>80131509</hr>
    <errorinfo></errorinfo>
  </entry>

Any help is highly appreciated.