Does metasploit works on localhost?

I installed Metasploit community edition on my local machine and tried to exploit my own localhost with auxiliary/admin/mysql/mysql_sql module.

I also provided my mysql credentials and when I run the auxiliary there is a timeout error.

msf5 auxiliary(admin/mysql/mysql_sql) > show options

Module options (auxiliary/admin/mysql/mysql_sql):

   Name      Current Setting   Required  Description
   ----      ---------------   --------  -----------
   PASSWORD  password          no        The password for the specified username
   RHOSTS    127.0.0.1         yes       The target address range or CIDR identifier
   RPORT     3306              yes       The target port (TCP)
   SQL       select version()  yes       The SQL to execute.
   USERNAME  developer         no        The username to authenticate as

msf5 auxiliary(admin/mysql/mysql_sql) > run
[*] Running module against 127.0.0.1

[-] 127.0.0.1:3306 - Connection timedout
[*] Auxiliary module execution completed
msf5 auxiliary(admin/mysql/mysql_sql) >

even if I turned off my firewall, the response is the same.

1. Does Metasploit allow to exploit its own host pc?
2. If so what could be the reason for Connection timed out?

Thanks!