The package assigned to object & does not exist

What causes this issue?

The prerequisites for executing the task have not been fulfilled since
the package assigned to object <ZH>&V1&</> does not exist.

System Response

The system will terminate the task.

How to fix this error?

Create the package.

Procedure for System Administrators

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

Error message extract from SAP system. Copyright SAP SE.