after login in vm manually, I see the following logs in C:\Windows\SysWOW64\ovirt-guest-agent.log
Dummy-1::INFO::2017-05-07 21:29:55,956::OVirtGuestService::84::root::Starting OVirt Guest Agent service
Dummy-2::INFO::2017-05-07 21:30:06,545::OVirtAgentLogic::321::root::Received an external command: api-version...
Dummy-2::INFO::2017-05-07 21:30:06,545::OVirtAgentLogic::117::root::API Version updated from 0 to 3
Dummy-2::INFO::2017-05-07 21:30:59,503::OVirtAgentLogic::321::root::Received an external command: lock-screen...
Dummy-2::INFO::2017-05-07 21:31:13,756::OVirtAgentLogic::321::root::Received an external command: login...
Dummy-2::ERROR::2017-05-07 21:31:14,756::GuestAgentWin32::311::root::Error writing credentials to pipe [1/3] (error = 2)
Dummy-2::ERROR::2017-05-07 21:31:15,756::GuestAgentWin32::311::root::Error writing credentials to pipe [2/3] (error = 2)
Dummy-2::ERROR::2017-05-07 21:31:16,755::GuestAgentWin32::311::root::Error writing credentials to pipe [3/3] (error = 2)
Digging into agent code to find the answer...