Code &1 does not exist in selected set &3

What causes this issue?

A default value is defined for the valuation of the inspection point.
However, code &V1& (code group &V2&, selected set &V3&, plant &V4&)
does not exist, or has been deleted.

System Response

You cannot process the inspection point.

How to fix this error?

Check the default values for the valuation of codes in
<DS:SIMG.OLQW_OQE6>Define inspection points</> or
<DS:SIMG.SIMG_CFMENUOLQSOQS1>QM plant settings</>.

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.