Visual Studio 2019: No compatible Entity Framework database provider for Oracle data source

Your project references the latest version of Entity Framework, however an Entity Framework database provider compatible with this version could not be found for your data connection. If you have already installed a compatible provider, ensure you have rebuilt your project before performing this action. Otherwise exit this wizard install a compatible provider, and rebuild your project before performing this action.

Above is a frequent error seen in earlier versions of Visual Studio. Here are the steps to resolve it in Visual Studio 2019.

STEPS:
Browse and install below Oracle Nuget packages from within Visual Studio
Oracle.ManagedDataAccess NuGet Package 19.6.0
(Oracle Data Provider for .NET, Managed Driver)

Oracle.ManagedDataAccess.EntityFramework Nuget Package Version 19.6.0
(Oracle Data Provider for .NET, Managed Driver for Entity Framework)

Now you should see the error gone and the Entity Data Model wizard successfully advance to next step as below:

Thats it!!