The whole message reads Service Endpoints are not available for the currently chosen subscription and location.
This error is related to Virtual Networks in Azure, and the feature called Service Endpoints. For more information on Service Endpoints you can read up on it here: https://docs.microsoft.com/en-us/azure/virtual-network/virtual-network-service-endpoints-overview but basically it is a secure manner to authenticate different Azure Services, like Azure Storage and SQL Database, to be authenticated and a part of your vNet. This is very useful in some scenarios.
The error was strange because we had previously provisioned vNets in the same Azure Location, and there was no sign that the subscription did not allow Service Endpoints.
The information under Learn more pointed to the same place as the link above. There was a “limitations” part but that did not apply either.
Luckily the solution was simple: Create the network without the Service Endpoints and simply add it later.
We also found that when we created the next virtual network, the option was available, so perhaps this error only occurs for the first network created in an Azure Subscription.