Can not create new content model

May I ask why I can’t create new content model?
I can see it throwing error messages as below:

  "sys": {
    "type": "Error",
    "id": "AccessDenied"
  "message": "Forbidden",
  "details": {
    "reasons": [
      "You do not have permissions to create on ContentType, please contact your administrator for more information."
  "requestId": "6105893c-a71b-44bf-878a-7ce5483ea526"

Hey there,

It looks like you’re already up to your limit of content types for that space.

If you need to create more, you’ll need to upgrade.

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