Hi Rajni,
You can use a combination of the above approach and Out of the Box My Direct Reports view.
Since the Owner field is locked you will not be able to set the default view to 'My Direct Reports' using Form configuration, but you can use a single line of code as described in the thread posted by Krishna to set the default view to 'My Direct Reports' on Form load.
This will avoid all the fetch XML creation and custom view creation and you can achieve the result by just setting the default view to an OOB view.
Let me know if it works.