Found the following fix, now it works:
I found a solution at xda, in case others need assistance:
1. Enable USB debugging: Go to phone settings -> About -> Tap build number repeatedly until developer menu is enabled. Go there and tick USB debugging.
2. On your PC, go to your device manager (when the Phone is plugged in and set to MTP), locate the phone, right click on it -> properties
3. go to the Driver tab
4. click Update Driver
5. click Browse my Computer for driver software
6. click Let my pick...
7. select USB Composite Device
8. finish up with the assistant