Root Cause: busybox isn’t configured to produce mdev.
A1:
Run MACHINE=<Your Machine> -c menuconfig busybox
and enable it.
Run MACHINE=<Your Machine> busybox
and compile it.
Run MACHINE=<Your Machine> core-images-tiny
and compile it.
A2:
add VIRTUAL-RUNTIME_dev_manager ?= "busybox-mdev"
to <Your Machine>.conf