Inclusion Criteria:  History of chronic HF [New York Heart Association (NYHA) Class II to IV] on guideline-directed medical therapy for heart failure (GDMT) with no HF hospitalization within 6 months or outpatient IV diuretic use within 3 months before randomization. Left ventricular ejection fraction (LVEF) of ≤40%, assessed within 12 months before randomization by any imaging method. Elevated N-terminal pro-brain natriuretic peptide (NT-proBNP) levels. A female participant is eligible to participate if she is not pregnant or breastfeeding, is not a woman of childbearing potential (WOCBP), or is a WOCBP and agrees to follow contraceptive guidance during the study intervention period and for at least 1 month after the last dose of study intervention.  Exclusion Criteria:  Awaiting heart transplantation, is receiving continuous IV infusion of an inotrope, or has or anticipates receiving an implanted ventricular assist device. Amyloidosis or sarcoidosis. Primary valvular heart disease requiring surgical procedure or intervention or has undergone a vascular surgical procedure or intervention within 3 months before randomization. Hypertrophic cardiomyopathy. Acute myocarditis or Takotsubo cardiomyopathy. History of heart transplant. Tachycardia-induced cardiomyopathy and/or uncontrolled tachyarrhythmia Acute coronary syndrome, or undergone coronary artery bypass grafting (CABG) or percutaneous coronary intervention (PCI) within 3 months before randomization. History of symptomatic carotid stenosis, transient ischemic attack (TIA), or stroke within 3 months before randomization. Malignancy or other noncardiac condition limiting life expectancy to <3 years. Requires continuous home oxygen for severe pulmonary disease. Interstitial lung disease. Discontinuation or dose modification of GDMT or vericiguat within 4 weeks before randomization. Recent history (within the last year) of drug or alcohol abuse or dependence