Create a data folder in C:\Program Files\MySQL\MySQL Server 8.0.
Create a new file with
(ALTER USER 'root'@'localhost' IDENTIFIED BY 'MyNewPass';)
command for password reset (if required)
Make sure that your file is in C: drive. root folder.
Then execute the below command:
C:\> cd "C:\Program Files\MySQL\MySQL Server 8.0\bin"
C:\> mysqld --init-file=C:\\mysql-init.txt