Set PRSERV_HOST = "arf" and try "bitbake -p". The call to bb.fatal() in the exception processing hangs. ANY attempt to terminate the program, like exit(), fails. This is for the bitbake on master as of 11/5/18. bitbake as of two years ago does not show the problem. The issue seems related to createDaemon() returning at the "wrong" time.
The issue is that the code repeatedly tries and fails to start the server, looping infinitely. Patches on the list to at least make it print messages and point at an error log where the issue can be figured out. Not perfect but not an infinite hang any more and a generic fix.
http://git.yoctoproject.org/cgit.cgi/poky/commit/bitbake/lib?id=97e19bf73b024bc691e56c315ec7eb378a8cf7dd