Value '&1' not defined for field '&2'

What causes this issue?

Value '&V1&' was transferred for field '&V2&'. This value is not
defined.

System Response

The data is inconsistent and cannot be saved.

How to fix this error?

Check in required/optional control, or in the documentation on data
transfer, to see which values are defined for field '&V2&'.

Error message extract from SAP system. Copyright SAP SE.