diff --git a/build_scripts/build_usd.py b/build_scripts/build_usd.py
index 6d4e8feb05..0627c97c88 100644
--- a/build_scripts/build_usd.py
+++ b/build_scripts/build_usd.py
@@ -393,7 +393,10 @@ def RunCMake(context, force, extraArgs = None):
 
     # Note - don't want to add -A (architecture flag) if generator is, ie, Ninja
     if IsVisualStudio2019OrGreater() and "Visual Studio" in generator:
-        generator = generator + " -A x64"
+        if "ARM" in os.environ.get('PROCESSOR_IDENTIFIER'):
+            generator = generator + " -A arm64"
+        else:
+            generator = generator + " -A x64"
 
     toolset = context.cmakeToolset
     if toolset is not None:
diff --git a/pxr/base/arch/defines.h b/pxr/base/arch/defines.h
index 021dd28cf5..84fb13152d 100644
--- a/pxr/base/arch/defines.h
+++ b/pxr/base/arch/defines.h
@@ -35,7 +35,8 @@
 #if defined(i386) || defined(__i386__) || defined(__x86_64__) || \
     defined(_M_IX86) || defined(_M_X64)
 #define ARCH_CPU_INTEL
-#elif defined(__arm__) || defined(__aarch64__) || defined(_M_ARM)
+#elif defined(__arm__) || defined(__aarch64__) || defined(_M_ARM) || \
+    defined(_M_ARM64)
 #define ARCH_CPU_ARM
 #endif
 
@@ -43,7 +44,8 @@
 // Bits
 //
 
-#if defined(__x86_64__) || defined(__aarch64__) || defined(_M_X64)
+#if defined(__x86_64__) || defined(__aarch64__) || defined(_M_X64) || \
+    defined(_M_ARM64)
 #define ARCH_BITS_64
 #else
 #error "Unsupported architecture.  x86_64 or ARM64 required."
diff --git a/pxr/base/arch/timing.h b/pxr/base/arch/timing.h
index d5e71f128c..baa69e448c 100644
--- a/pxr/base/arch/timing.h
+++ b/pxr/base/arch/timing.h
@@ -52,7 +52,13 @@ ArchGetTickTime()
     return __rdtsc();
 #elif defined (ARCH_CPU_ARM)
     uint64_t result;
+    #if defined(ARCH_COMPILER_MSVC)
+    // MSVC does not support inline assembly on ARM64 platforms
+    // 0x5F02 == ARM64_CNTVCT - manually calculated value avoids <windows.h>
+    result = _ReadStatusReg(0x5F02);
+    #else
     __asm __volatile("mrs	%0, CNTVCT_EL0" : "=&r" (result));
+    #endif
     return result;
 #else
 #error Unknown architecture.
@@ -68,7 +74,8 @@ inline uint64_t
 ArchGetStartTickTime()
 {
     uint64_t t;
-#if defined (ARCH_OS_DARWIN)
+#if defined (ARCH_OS_DARWIN) || \
+    (defined (ARCH_CPU_ARM) && defined (ARCH_COMPILER_MSVC))
     return ArchGetTickTime();
 #elif defined (ARCH_CPU_ARM)
     std::atomic_signal_fence(std::memory_order_seq_cst);
@@ -109,7 +116,8 @@ inline uint64_t
 ArchGetStopTickTime()
 {
     uint64_t t;
-#if defined (ARCH_OS_DARWIN)
+#if defined (ARCH_OS_DARWIN) || \
+    (defined (ARCH_CPU_ARM) && defined (ARCH_COMPILER_MSVC))
     return ArchGetTickTime();
 #elif defined (ARCH_CPU_ARM)
     std::atomic_signal_fence(std::memory_order_seq_cst);