Diagnosis
When creating or changed the material valuation view you encountered an error. The material was not connected to the material ledger.
System Response
Updating the transaction is terminated.
Procedure
Get in contact with SAP Support.
SOLUTION:
In this case, you can't activate the ML for this Material.
so here, first Activate the Material Ledger - https://www.gauravconsulting.com/forum/sap-s-4-hana/material-ledger-not-active-in-plant-vipu-message-no-c-302
and then create a New Material.
Thanks,
Adharsh K S