Unable to Login via SSH: sshd.service Failed to Start (Failed at step EXEC spawning /usr/local/sbin/sshd: No such file or directory)

Issue

• Server cannot be accessed via SSH and only accessible through virtual machine's console.

• Connection to the server refuses with Connection refused error.

  ssh: connect to host xx.x.xx.xxx port 22: Connection refused
  

• sshd service failed to start with following errors.

  systemd[x]: sshd.service: Failed to execute command: No such file or directory
  systemd[x]: sshd.service: Failed at step EXEC spawning /usr/local/sbin/sshd: No such file or directory
  systemd[x]: sshd.service: Main process exited, code=exited, status=203/EXEC
  systemd[x]: sshd.service: Failed with result 'exit-code'.
  systemd[x]: Failed to start OpenSSH server daemon.