Do you have any antivirus, security, or firewall applications that could be blocking Local? It looks like from the log it might be having trouble connecting.
More details about troubleshooting this here: Router Mode
Are you running other developer applications simultaneously? That could also cause similar issues. Apps like MAMP, XAMPP, or Docker for example.
Other people had the same question as me.
One of the answers mentioned a method of re-importing the site, so I tried that.
After that, the site started working successfully! amazing!
As far as preventing this in the future we are looking into it because it seems to be a frequent issue for Windows users. One possible way you could prevent it is when you are going to update Local make sure all of your sites are Stopped and not running before you update. That might be one reason why this is occurring.