I thought perhaps it was because the path had a space in it - but I tried again in a new location and had the same issue. I also was wondering if my Pi-Hole was causing the issue, but I whitelisted dc.services.visualstudio.com and still have the issue. Any troubleshooting suggestions?
Thank you so much for your reply, @ScottDurow - that did the trick and I appreciate the link as well. I could see the build was succeeding but the error with the telemetry was blocking me from being able to push the compenent to my environment.