Cannot open file; exception &1 occurred

What causes this issue?

The system cannot open or change the following file: &V2&

System Response

The processing for this file is cancelled.

How to fix this error?

Check if the user has sufficient rights to create or change files with
the selected path.

Procedure for System Administrators

The exception &V1& has the following meaning:
OPEN_FAILED: The initial creation of the file failed.
OPEN_FOR_UPDATE_FAILED: The file opening failed at a certain position,
the sequential appending to the file could not be continued.

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.