Asset class & marked for deletion (Enter another asset class)

What causes this issue?

Asset class &V1& has been marked deletion. You cannot create any asset
master records in class &V1&.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Enter another asset class
or
choose another asset class using the F4 function.

Error message extract from SAP system. Copyright SAP SE.