How to Fix iPhone Stuck on Restore Screen on a PC?

Hey guys, I'm having a serious problem with my iPhone and really need some advice!

My iPhone suddenly shut down and is now completely stuck on the restore screen showing the message “support.apple.com/iphone/restore”. I connected it to my Windows computer and tried to restore it via iTunes, but it always errors out or just stays at “Waiting for iPhone”.

At this point, I don't know what to do. Is there any way to fix this without losing everything, or do I have to completely reset? If anyone has experienced this and found a solution, I would greatly appreciate your help! I would like to thank you in advance!