Release not authorized for period &1 / &2 in company code &3

What causes this issue?

In &v4&, the following was determined:
You want to release materials for the period &V1& / &V2& for company
code &V3&, although releasing has not been allowed.

How to fix this error?

If you have the authorization to do so, you must first of all allow the
release with a costing variant that is provided for in &v4&, as an
organizational measure for the period V1& / &V2& in company code &V3&.

Error message extract from SAP system. Copyright SAP SE.