Operating concerns were not upgraded automatically

What causes this issue?

Your system has been upgraded to a newer release, or a hot package has
been imported. The existing operating concerns in Profitability
Analysis (CO-PA) need to be upgraded for the new functions in CO-PA.
Errors occurred while the system was automatically carrying out the
upgrade.

System Response

Profitability Analysis cannot be activated.

How to fix this error?

Activate the data structures for your operating concerns using the
Customizing transaction KEA0, and then generate the environment for
these operating concerns.
<DS:TRAN.KEA0>Activate data structures, generate environment</>

Error message extract from SAP system. Copyright SAP SE.