I was able to solve the issue by following suggestion provided by @anon41245154 here:
CUDA 9.1 cannot install due to failed Visual Studio Integration - #6 by ubejd.
As I had visual studio 2019 professional so I copied the MSBuildExtensions to following location on my system:
C:\Program Files (x86)\Microsoft Visual Studio\2019\Professional\MSBuild\Microsoft\VC\v160\BuildCustomizations.
Thank you @anon41245154 for your valuable suggestion!