How to fix fresh WSL install "WslRegisterDistribution failed with error: 0x80370114"

I have Windows 11 and I had WSL working fine, until I had to do a PC Reset and now trying to install it again from scratch. This is what I get now (after multiple WSL installation attempts):

PS > wsl --install
Windows Subsystem for Linux is already installed.
The following is a list of valid distributions that can be installed.
Install using 'wsl.exe --install <Distro>'.

NAME               FRIENDLY NAME
Ubuntu             Ubuntu
Debian             Debian GNU/Linux
kali-linux         Kali Linux Rolling
SLES-12            SUSE Linux Enterprise Server v12
SLES-15            SUSE Linux Enterprise Server v15
Ubuntu-18.04       Ubuntu 18.04 LTS
Ubuntu-20.04       Ubuntu 20.04 LTS
OracleLinux_8_5    Oracle Linux 8.5
OracleLinux_7_9    Oracle Linux 7.9


PS > wsl --install Ubuntu-20.04
Installing: Ubuntu 20.04 LTS
Ubuntu 20.04 LTS has been installed.
Launching Ubuntu 20.04 LTS...
PS > wsl list
Windows Subsystem for Linux has no installed distributions.

Use 'wsl.exe --list --online' to list available distributions
and 'wsl.exe --install <Distro>' to install.

Distributions can also be installed by visiting the Microsoft Store:
https://aka.ms/wslstore
Error code: Wsl/Service/CreateInstance/GetDefaultDistro/WSL_E_DEFAULT_DISTRO_NOT_FOUND

If I run the Ubuntu app, I get:

Installing, this may take a few minutes...
WslRegisterDistribution failed with error: 0x80370114
Error: 0x80370114 The operation could not be started because a required feature is not installed.

Press any key to continue...

Under "Turn Windows features on or off" I have enabled:

[x] Virtual Machine Platform
[x] Windows Hypervisor Platform
[x] Windows Subsystem for Linux

By the way, I only turned on "Windows Hypervisor Platform" later, as an experiment. I saw answers on GitHub and elsewhere related to vmcompute.exe but I don't have that on my system, do I need to install it, and if so, how?!

PS > ls C:\Windows\System32\vm*


    Directory: C:\Windows\System32


Mode                 LastWriteTime         Length Name
----                 -------------         ------ ----
-a----        07/05/2022     06:20          50528 VmApplicationHealthMonitorProxy.dll
-a----        21/11/2022     19:41          79896 vmbuspipe.dll
-a----        07/05/2022     06:20         270336 vmdevicehost.dll
-a----        07/05/2022     06:20          87400 vmictimeprovider.dll
-a----        07/05/2022     06:20         487424 vmrdvcore.dll

Even though already enabled, also tried the accepted answer on a similar question, but no difference:

PS > dism.exe /online /enable-feature /featurename:Microsoft-Windows-Subsystem-Linux /all /norestart

Deployment Image Servicing and Management tool
Version: 10.0.22621.1

Image Version: 10.0.22621.819

Enabling feature(s)
[==========================100.0%==========================]
The operation completed successfully.

PS > dism.exe /online /enable-feature /featurename:VirtualMachinePlatform /all /norestart

Deployment Image Servicing and Management tool
Version: 10.0.22621.1

Image Version: 10.0.22621.819

Enabling feature(s)
[==========================100.0%==========================]
The operation completed successfully.

So what is the solution here? The forum answers didn't help me, and the MS documentation sounds like all that's needed is a magic wsl --install.

System information:

Edition Windows 11 Home
Version 22H2
OS build    22621.819
Experience  Windows Feature Experience Pack 1000.22636.1000.0

Any suggestions are appreciated, otherwise I'll share the solution I find later. Going to install some updates now, and will see if that helps.

PS > ls C:\Windows\System32\vmcompute*


    Directory: C:\Windows\System32


Mode                 LastWriteTime         Length Name
----                 -------------         ------ ----
-a----        21/11/2022     19:41         796000 vmcompute.dll
-a----        21/11/2022     19:41        4158848 vmcompute.exe
-a----        07/05/2022     08:16          42344 vmcomputeeventlog.dll