No valid Role Category exists for Business Partner Role &1

What causes this issue?

Every business partner role must be assigned to a valid role category.
The business partner role &V1& is not assigned to a valid or existing
role category.

System Response

This is an inconsistency in system customizing. Therefore<(>,<)> the
processing of the current consolidation step must be aborted.

How to fix this error?

Adjust the business partner role customizing or the source data
according to the business partner role customizing.

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.