I purchased MS Surface Pro X and updated Windows to Version 1903 (OS Build 19018.1) using the Insider Program. I followed the WSL2 doc and installed Ubuntu 18.04 for ARM.

You are absolutely NOT running Windows 10 version 1903. There are multiple reasons I know what version you are actually running.

However, your inability to run WSL from a PowerShell prompt is a known issue, you need to run it from a command prompt.

If you are using an Arm64 device and running this command from PowerShell, you will receive this error. Instead, run wsl.exe from PowerShell Core, or Command Prompt.

Source: Installation Instructions for WSL 2

It appears that in the future Hyper-V will be supported on ARM devices once Windows 10 version 2103 is released.

Source: Windows 10 Version 2103