This issue is solved by adding valid DNS IP Address.
OSD is initiated from a VM. It fails with "An Error Occurred While Retrieving Policy For This Computer (0x80004005). For more information, contact your system administrator or helpdesk operator."
SCCM Distribution Point is at Netherland and Management Point server is at West Virginia.
Updated the SCCM Distribution Point and Management Point server are with same time zone UTC-5 Eastern Time Zone.
But still client is not able to contact Management Point server.
Please help how this can be solved