Windows Server 2022 RDP connection fails with error 0x3 + extended error 0x11

The Issue:

Today I started receiving an error while connecting to an Azure hosted Windows 2022 Server that until recently (2 or 3 days ago) were connecting fine.

The symptom: the connection error occurs after authentication (filled still in the client app) and passing all the security checks phases. When the RDP screen is to be rendered (it is created but still all black), it gives the error.

Your Remote Desktop Services session has ended, possibly for one of the following reasons:

The administrator has ended the session.
An error occurred while the connection was being established.
A network problem occurred.

For help solving the problem, see "Remote Desktop" in Help and Support.

[Expanded Information]
Error code: 0x3
Extended error code: 0x11

Note that this error happens even when connecting inside the server host to self (using localhost or 127.0.0.1).

More Info:

The control to this server was handled to a technician who installed AnyDesk, and maybe it started some kind of conflict, but I'm not sure it is related.

Using Group Policy (gpedit.msc) all RDP settings related to Hardware Acceleration / RemoteFX optimizations / UDP connections were disabled, with no success.

Some (maybe) relevant Event Logs messages (I've translated them myself from pt-BR – ordered
from last to first):

Info    103     The disconnection reason is 17
Info    72      Method interface call: GetServerAutoReconnectInfo
Info    72      Method interface call: GetServerAutoReconnectInfo
Info    72      Method interface call: DisconnectNotify
Info    72      Method interface call: SetErrorInfo(0x11)
Info    72      Method interface call: PreDisconnect(17)
Info    132     The rdpdr channel was connected between server and client using transport tunnel: 0.
Info    132     The Microsoft::Windows::RDS::Geometry::v08.01 channel was connected between server and client using transport tunnel: 0.
Info    132     The Microsoft::Windows::RDS::Geometry::v08.01 channel was connected between server and client using transport tunnel: 0.
Info    132     The Microsoft::Windows::RDS::Video::Data::v08.01 channel was connected between server and client using transport tunnel: 0.
Info    132     The Microsoft::Windows::RDS::Video::Control::v08.01 channel was connected between server and client using transport tunnel: 0.
Info    72      Method interface call: ConnectNotify(SessionId=1)
Info    162     The client offers support to version 0xA0400 of RDP graphics protocol, client mode: 2, AVC available: 0. Initial Profile: 2. Server: MyServer
Info    132     The Microsoft::Windows::RDS::Graphics channel was connected between server and client using transport tunnel: 0.
Info    132     The Microsoft::Windows::RDS::Telemetry channel was connected between server and client using transport tunnel: 0.
Info    72      Method interface call: OnReady
Info    72      Method interface call: OnConnected
Info    169     The client operating system type is (1, 0). Server: MyServer
Info    132     The rdpinpt channel was connected between server and client using transport tunnel: 0.
Info    33      The RDP protocol will be using RemoteFX guest module to connect to the client computer.
Info    132     The rdpgrfx channel was connected between server and client using transport tunnel: 0.
Info    66      The RDP-Tcp#0 connection was assigned to session: 1
Info    72      Method interface call: AuthenticateClientToSession
Info    135     The multitransport connection was completed for tunnel: 3. The transport type was defined as TCP: Reason Code: 2 (Forced by Server Configuration).
Info    135     The multitransport connection was completed for tunnel: 1. The transport type was defined as TCP: Reason Code: 1 (No Client UDP Support).
Info    100     The server confirmed the client multi-transport feature.
Info    98      The TCP connection was successfully established.
Info    72      Method interface call: ProtocolComplete
Info    72      Method interface call: SendClientLicense
Info    72      Method interface call: GetSecurityFilterCreds
Info    71      The RDP-Tcp#0 connection uses video driver RDPUDD.
Info    104     The client timezone is [-3] UTC Time 
Info    72      Method interface call: AcceptConnection
Info    72      Method interface call: OnStartLicensing