SAP Message USMD1160 - Entity type &1 is invalid

Diagnosis
You can assign authorizations only for entity types withstorage and use type 1 or 2
IF &[SWITCH]FIN_MDM_CORE_SFWS_EHP5& = 'X'.
or 4
ENDIF.
. The entity types must be defined in the active data model.

System Response
The authorizations cannot be saved.

Procedure
Use the input help to select a valid entity type.