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The DHCP server level options apply to every scope on the your DHCP server while the scope options apply at individual scope level. If you configure DHCP Options at the Server level means that all DHCP clients will have the same options regardless of the DHCP Scope they belong to. Also keep in mind that scope options override the server settings for that specific scope.
I'm running this setup in Hyper-V. My client obtains an IP adress from the DHCP. It can ping the DHCP server. I can't ping from server to client. I haven't configured a default gateway. Should I configure the default gateway with the gateway from my host machine?
Your server device is not able to ping your client device due to firewall. The default rules on windows firewall on your client computer are blocking ICMP request packets. You can create a ICMP Echo rule to allow the traffic from your local network.