I have a similar problem like mentioned in this question:
Unable to create the virtual machine
But, my problem is a bit different in the error description:>
I have found the solution for this stupid error. I had working on this issue almost 1 month.
I just did 2 things recently and I emulator did create virtual machine in Hyper-V as well as deployed my application into Emulator.
I hope this would work.
Thanks.