Characteristic &1 (length &2) cannot be used as a document property

What causes this issue?

The length of characteristic &V1& is &V2& characters. The characteristic
can thus not be used as a document property.
The maximum length for a characteristic to be used as a document
property is &V3&.

System Response

The system cannot create this characteristic.

How to fix this error?

Shorten the length of characteristic &V1& to a maximum of &V3&
characters.

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.