When is the compact-open topology on homomorphisms locally compact?

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Let $X$ and $Y$ be topological groups.

The space $\mathrm{Cont}(X,Y)$ of continuous functions will be given the compact-open topology.

The subspace $\mathrm{ContHom}(X,Y)$ of continuous homomorphisms will be given the subspace topology.

Without assuming that $Y$ is a metric space, are there conditions on $X$ and $Y$ that imply that $\mathrm{ContHom}(X,Y)$ is locally compact?

One special case of particular importance is the fact that $\mathrm{ContHom}(G,T)$ is locally compact, where $G$ is a locally compact Hausdorff abelian group, and $T$ is the circle group.

For this special case, the standard proof uses equicontinuity and Arzela-Ascoli. But this approach only works if $Y$ is a metric space.