Windows IoT Boot freeze at first boot screen after install

[WinInsider]

What could be a reason for Windows IoT Boot freeze? This happens right after install, during first boot... the blue Windows logs is shown, and dot cycle spins once full circle, then freezes (at the loading screen, no blue screen).

IoT Package version: 17633.253
ADK-Adddon Kit: 7.0
Device: Lenovo Miix 2
CPU : Intel Atom Bay Trail Z3740

I have striped out all drivers, even ones from BSP, no difference.
WinPE can boot, and full Windows 10 can also boot.