Unable to Edit Outlook Group Settings in SharePoint Conversations: Error Message 'The Group Update is in Progress'

Question

I am the owner of a Team and, through sharepoint conversations, created a private group for this team in Outlook. However, when I click the "..." Settings, I am unable to change any of settings. Clicking on any of the options under "manage group email" simply reverts back to the original " Receive only replies to you", and if I seek to edit the group, I get a "The group update is in progress" status update highlighted in red that does not resolve.