Cannot Bind Parameter ‘ForegroundColor’ Error When Creating Nano Server Image

You get the following error when running New-NanoServerImage in PowerShell ISE to create a new Windows Server 2016 (WS2016) Nano Server image:

Write-W2VError : Cannot bind parameter ‘ForegroundColor’. Cannot convert the “#FFFF0000” value of type
“System.Windows.Media.Color” to type “System.ConsoleColor”.

The fix (during TP5) is to not use PowerShell ISE. Use an elevated PowerShell prompt instead. The reasoning is explained here by “daviwil”.