I started the process again for restoration. Here is another error:

Started restore from backup
Error    Failed to restore the instance. Failed to retrieve Resource. Operation timed out
Error    Unable to perform the operation. Unexpected exception: Failed to retrieve Resource. Operation timed out
Error    The task has completed

Did you check the logs any further?  I would suggest for this problem you open a ticket with support to get it resolved.

Thanks Chris,

A support ticket has already been opened and the logs are currently under review. I’ve had a few email exchanges with support, and in one of them, they mentioned it might be a network-related issue. For further assistance, we're waiting for their detailed response after the log analysis.

Sounds good and they will get you an answer.  Be interesting to see what they find.

Hi,

I got the solution:

To resolve the issue, there are two possible workarounds: disable the policy that prohibits snapshot creation and, if it isn't possible, change the default snapshot region.

This can be done by following the next steps (https://cloud.google.com/compute/docs/disks/snapshot-settings):

1. Log into the Google Cloud console (https://console.cloud.google.com/).

2. Open the Cloud Shell using the button at the top right corner.

3. Execute the following command:

gcloud compute snapshot-settings update --project=project-name --storage-location-policy=specific-locations --storage-location-names=region