SPFx : gulp trust-dev-cert failing with “ERROR_INVALID_ACL”

Question

When I try to install the dev certificate for SPFx I am getting an error:

Error - [trust-cert] Error: root "Trusted Root Certification Authorities"
Signature matches Public Key
CertUtil: -addstore command FAILED: 0x80070538 (WIN32: 1336 ERROR_INVALID_ACL)
CertUtil: The access control list (ACL) structure is invalid.

I have tried running this from both a dedicated PowerShell console (Run as Admin) and from VSCode (also running "as admin").

For references I am running NodeJS v8.9.4 with Windows 10 Pro (fully patched).