I am unable to complete the process of creating the Templates

Most likely you don’t have a workflow set up yet, for that reason your template creation would fail.

Please refer to our knowledge base on how to configure approval workflows and templates:

1. approval workflow: https://esupport.wpengine.com/knowledge-base/approval-workflow/?seq_no=2
2. Template creation: https://esupport.wpengine.com/knowledge-base/teams-templates/

In case the problem persist, please open a case with us for further investigation.