Hi SnickZ,
The problem has nothing to do with creating an AppleID. This is something I already had. Restarting the PC, uninstalling and re-installing the Windows application, even praying to the computer gods failed to make any difference.
The problem is clearly something broken/missing within the Windows iTunes application. While it presents the terms to read there is absolutely no way to successfully agree to those terms. Click Continue to continue simply presents a message "You must agree to the Apple Media Services Terms and Conditions to continue."
I was however able to work around the issue thanks to a response in one of the many other similar threads I found after making my original post. The solution was to install the Apple Music app on my Android based phone and when activating it with my AppleID to agree to the terms. This actually does provide a way to agree to the terms, unlike the Windows iTunes application. Once I agreed to the terms and returned to the Windows iTunes application everything was fine.
I have since uninstalled iTunes from Windows as I have no need or desire to use that application. This entire step was forced when trying to activate an AppleTV trial subscription. A choice I am also re-considering after wasting the better part of a day trying to activate the account.