The geotags term set for this site collection cannot be created because of the following reason: Access denied

Error Message

When configuring ArcGIS Maps for SharePoint, initializing the geotags term set for site collection fails, returning the following error message:

Error:   
The geotags term set for this site collection cannot be created because of the following reason: Access denied. You do not have permission to perform this action or access this resource..

Cause

The user configuring ArcGIS Maps for SharePoint is not a term store admin for the organization's Microsoft SharePoint site.

Solution or Workaround

To successfully configure and deploy ArcGIS Maps for SharePoint, a user must be assigned a term store admin role for the Microsoft SharePoint site. To assign this role, follow the steps listed below.

Note:
The following steps can only be performed by the organization's Microsoft 365 global admin, or a Microsoft SharePoint admin. For more information on these roles, refer to Microsoft: About the SharePoint admin role in Microsoft 365 .

1. Log in to the SharePoint admin center, and navigate to Content services > Term store.
2. In the left pane, select Taxonomy.
3. On the Term store page, under Admins, click Edit. The Edit term store admin window displays.

4. Enter the name or email address of the user to assign the term store admin role to. Click Save.

The term store admin can configure ArcGIS Maps, and initialize the geotags term set.