No variants found for selected object type &1

What causes this issue?

No variant could be found for the selected object type on the basis of
the parameters set in Customizing for variant selection.

System Response

Processing is terminated.

How to fix this error?

Check the settings in Customizing for variant selection (transaction
<DS:TRAN.ORPS11>ORPS11</>).

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.