Object Server Azure: Exception 3762504530 occurred in session 2, process: w3wp.exe, thread: 6396 (After restore Azure db to local VM)

Ref: https://docs.microsoft.com/en-us/dynamics365/unified-operations/dev-itpro/database/copy-database-from-azure-sql-to-sql-server

While trying to update local Dynamics 365 VM to use a database backup from Azure environment, I'm getting the error "Object Server Azure: Exception 3762504530 occurred in session 2, process: w3wp.exe, thread: 6396". This happens after I rename the database and start up the services again.

What happens is that the *.bacpac file has not been prepared for SQL Server yet, it is a direct backup of the Azure SQL database.

In ref. link above, one of the step is to prepare the database which include an important settings changes:

update sysglobalconfiguration set value = 'SQLSERVER' where name = 'BACKENDDB'

This statement will prepare the database for SQL Server environment.
To resolve this issue, run the script under the "Prepare the database" section (in the ref. link above), then restart the services again.

Before the error is resolved, if you're running the Admin user provisioning tool, you'll get "Time out has expired and the operation has not been completed" error.

Below is the screenshot from Event Viewer for the error in title

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The description for Event ID 180 from source Dynamics Server Azure cannot be found. Either the component that raises this event is not installed on your local computer or the installation is corrupted. You can install or repair the component on the local computer.

If the event originated on another computer, the display information had to be saved with the event.

The following information was included with the event:

Object Server Azure:

Exception 3762504530 occurred in session 2,process: w3wp.exe ,thread: 6396

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