Alright. So the options described in my original post are still missing.
But I managed to get it to work.
Apparently I was missing the Android-SDK for API level 29 (Android 10) which might be mandatory with the new Xamarin.Forms 5.x.x.xxxx version?
If you do not have: Solution -> [AppName].Android -> References -> Xamarin.Essentials / Xamarin.Forms listed you might have the same problem I had.
Those references where there for the [AppName].iOS project! And could be found in the [AppName] project under Solution -> [AppName] -> Dependencies -> Packages -> Xamarin.Essentials / Xamarin.Forms
Most likely something went wrong with your Android-SDK and you need to repair / un- and reinstall it.
You can do that with: Tools -> Android -> Android SDK Manager and then install / repair the latest SDK version or for me Android 10.0 - Q (Android API Level 29)