I found some warning and error logs in application logs...
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Warning - Event ID 8229, Source VSS
A VSS writer has rejected an event with error 0x800423f3, The writer experienced a transient error. If the backup process is retried,the error may not reoccur.
Changes that the writer made to the writer components while handling the event will not be available to the requester. Check the event log for related events from the application hosting the VSS writer.
Operation:
PrepareForSnapshot Event
Context:
Execution Context: Writer
Writer Class Id: {66841cd4-6ded-4f4b-8f17-fd23f8ddc3de}
Writer Name: Microsoft Hyper-V VSS Writer
Writer Instance ID: {9a0d259c-3351-4721-b62b-218df59b93a6}
Command Line: C:\Windows\system32\vmms.exe
Process ID: 1792
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Error - Event ID 16389, Source SPP
Writer Microsoft Hyper-V VSS Writer experienced retryable error during shadow copy creation.