Hate to reply to my own post, but was slightly confused by where to find the Use Legacy Previews Execution because there are 2 Canvas items in the editor menu. Once I enabled it, previews work as expected.
wombat2k
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I'm having the same issue, only I'm targeting MacOS, which you really wouldn't expect to have this issue.
In my case, it started happening when I imported a slightly more complicated view, but even removing it doesn't help. Right now, I only have a NavigationSplitView with a few text fields, but it consistently times out.
Tried all the applicable suggestions, but nothing worked.