A connection attempt failed because the connected party did not properly respond after a period of time

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Product:
Planning Analytics 2.0.5
Planning Analytics for Office
Microsoft Windows 2016 server

Problem:
When you connect to PAW server from PAX inside Excel you get a error.

Error message:
System.Net.WebException: Unable to connect to the remote server —> System.Net.Sockets.SocketException: A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond 192.168.200.10:8080
at System.Net.Sockets.Socket.DoConnect(EndPoint endPointSnapshot, SocketAddress socketAddress)
at System.Net.ServicePoint.ConnectSocketInternal(Boolean connectFailure, Socket s4, Socket s6, Socket& socket, IPAddress& address, ConnectSocketState state, IAsyncResult asyncResult, Exception& exception)
— End of inner exception stack trace —
at System.Net.HttpWebRequest.GetResponse()
at Cognos.Office.Reporting.Common.ImageBalloon.ShowAnimation()

Possible solution:
That a proxy server is setup inside IE – Internet options that is preventing the communication to happen.

Go to Control panel on your laptop
Click on Internet Options
Click Connections tab
Click LAN settings button
Unmark Proxy server
Click OK and test again.

More information:
https://www.exploringtm1.com/how-to-install-planning-analytics-for-excel-pax/
https://www.ibm.com/support/knowledgecenter/en/SSD29G_2.0.0/com.ibm.swg.ba.cognos.tm1_inst.2.0.0.doc/t_tm1_inst_sso_pax.html

Setup of SSL at TM1WEB
https://www.ibm.com/support/knowledgecenter/SSD29G_2.0.0/com.ibm.swg.ba.cognos.tm1_inst.2.0.0.doc/t_pa_use_ibmkeymgmt.html