Exception occurred on the metadata service on client or server - error

Hi experts,

Please help me in solving this error I get while selecting a Query for a  SSRS report's dataset.

I have Microsoft Dynamics 365 for Operations in my VM. 

1. In Visual Studio 2015, I have created a new project and trying to customize an existing report.
2. I open the report. Go to the dataset and select "Query" as the "Data Source Type" in the properties window. Go to the Query property and click "..." to open the dialog. 
3. Select any Query and click next, I get the error "Exception occurred on the metadata service on client or server".

Thanks,

Syed