ArcGIS Pro: Failure to Load Preset

Error Message

In ArcGIS Pro, attempts to export a layout using a preset fail and the following error message is returned:

Error:
Failure to Load Preset
This preset file contains settings for layout export and cannot be used in a map export.

Cause

The map frame being activated causes a map export to be performed instead of a layout export, preventing the preset from being used and returning the error.

Solution or Workaround

Deactivate the map frame to export the layout using the preset. Refer to Step 4 in ArcGIS Pro: Activate a map frame for the instruction.