I just managed to get the Moodle Cron process to run successfully this morning! The culprit was the scheduled task named, Predict Models; it was always hanging and preventing the process to continue.
I found this out after running the command like you suggested. I can't believe I overlooked this.
As far as the set up for the Task Scheduler, I had everything almost exactly like yours. I have decided to disable the Predict Models task from running and so far no issues have been experienced.
Thank you very much for your help!