An error occurred when opening a rule session

What causes this issue?

An error occurred while opening a rule session for:
ILM Object,,&V1&
Policy Category,,&V2&
Audit Area,,&V3&
Policy Origin,,&V4&

System Response

Rule processing of the current object instance is terminated.

How to fix this error?

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

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.