3622829 - IOLayer error when trying to create BW Live Model in SAP Analytics Cloud

When trying to create a Model based on existing BW Live connection, following error occurs:

'Error in SAC : IOLayer Error: Error [IOLayer]: (#61) Destination host is unreachable!'

On the backend, following dump is generated in ST22:

Runtime Errors         SYNTAX_ERROR
ABAP Program           BW_BICS_INA_PROC_DT_CATALOG===XT

The current ABAP program "CL_BICS_INA_PROC_DT_CAT_QURY2=CP" had to be terminated because it found a statement that could not be executed.
In include "BW_BICS_INA_PROC_DT_CATALOG===XT        ", in line 8 of program "BW_BICS_INA_PROC_DT_CATALOG===XT        ", the following syntax errors have occurred: #[1/DIMENSIONS]##[2/HIERARCHY_ACTIVE_DEFAULT]#

When checking transformation BW_BICS_INA_PROC_DT_CATALOG - following syntax error is shown:

'Line 543 - 'DIMENSIONS has no component HIERARCHY_ACTIVE_DEFAULT''

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• SAP Analytics Cloud
• SAP NetWeaver 7.50 up to SP28
• SAP NetWeaver 7.51 up to SP17
• SAP NetWeaver 7.52 up to SP13
• SAP NetWeaver 7.53 up to SP11
• SAP NetWeaver 7.54 up to SP09
• SAP NetWeaver 7.55 up to SP7
• SAP NetWeaver 7.56 up to SP5
• SAP NetWeaver 7.57 up to SP3
• SAP NetWeaver 7.58 up to SP1
• SAP BW/4HANA 2.0 up to SP15
• SAP BW/4HANA 2021 up to SP6

SAP Analytics Cloud 1.0 ; SAP BW/4HANA 2.0 ; SAP BW/4HANA 2021 ; SAP BW/4HANA 2023 ; SAP S/4HANA 1709 ; SAP S/4HANA 1809 ; SAP S/4HANA 1909 ; SAP S/4HANA 2020 ; SAP S/4HANA 2021 ; SAP S/4HANA 2022 ; SAP S/4HANA 2023 ; SAP S/4HANA 2025 ; SAP S/4HANA 2027

BW_BICS_INA_COMMON_DIMENSIONS, Error in SAC, IOLayer Error, (#61) Destination host is unreachable!, SYNTAX_ERROR, syntax error, BW_BICS_INA_PROC_DT_CATALOG, HIERARCHY_ACTIVE_DEFAULT , KBA , BW-BEX-OT-BICS-INA , BW INA provider , LOD-ANA-LDC-BW , SAC Live Data Connection BW , Problem