Entity &1 of entity type &2 does not exist in change request &3

What causes this issue?

You want to process an entity that is assigned to change request &V3&.
The value of the higher-level entity &V1& of entity type &V2& is not,
however, in change request &V3& nor in the active version.

System Response

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

How to fix this error?

If you want to process entities that are assigned to change request &V3&
and that have entity &V1& of entity type &V2& as a higher-level field,
the change request that contains entity &V1& of entity type &V2& must
first be finalized.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.