Why am I receiving the error 'Upload not allowed for employee when "Allow payslip bulk uploads to statutory and automatic components" setting is disabled' when trying to override statutory components?

Why am I receiving the error 'Upload not allowed for employee when "Allow payslip bulk uploads to statutory and automatic components" setting is disabled' when trying to override statutory components?

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This feature is available on all PaySpace editions

By default, the system does not permit overriding statutory/automatic components through Bulk Actions.

To enable this functionality, the "Allow payslip bulk uploads to statutory and automatic components" calculation setting must be activated.
Navigate > Config > Payroll > Payrol Config > Calculation Settings