For method &1 (plant &2), there is no released version for key date &3

What causes this issue?

Although inspection method &v1& that you entered is in plant &v2&, no
released version exists for key date &v3&.

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?

Choose another inspection method or release this inspection method.
Note that historic statuses can only be selected, if you enter the
version number in the corresponding field or select the version using
the input help.

Error message extract from SAP system. Copyright SAP SE.