Error when selecting using function module &1, see long text

What causes this issue?

An error occurred during data selection using function module '&V1&'.
The error code was &V2&, and the following was returned as text: '&V3&'

System Response

The data transfer cannot take place.

How to fix this error?

Analyze the error and rectify it. Check the messages in the application
log, see transaction <DS:TRAN.CFG1>CFG1</>.

Error message extract from SAP system. Copyright SAP SE.