Symptoms

You try to boot Gen2 Hyper-V VM with Acronis Bootable Media

Media fails to boot with the following message:

The image's hash and certificate are not allowed (DB)

No UEFI-compatible file system was found.

Cause

Secure Boot is enabled on the VM. Secure Boot prevents boot from a Linux bootloader in the ISO file (the Linux bootloader neither signed nor certified by Microsoft).

This issue is not specific to Acronis Bootable Media. 

Solution

Temporarily disable Secure Boot  in Settings -> Security -> Enable Secure Boot.

Alternatively, the "Secure Boot" selection can be changed to "Microsoft UEFI Certificate Authority."  This selection should work for the majority of Linux distributions according to Microsoft.