Hello @GSIMON
You have custom Azure Policy "Restrict Public IP" that prevents creation of your VM
Please check restrictions in your custom Azure Policy
https://learn.microsoft.com/en-us/azure/governance/policy/overview
Launch the Azure Policy service in the Azure portal by selecting All services, then searching for and selecting Policy.
Select Assignments on the left side of the Azure Policy page. An assignment is a policy that has been assigned to take place within a specific scope.
https://learn.microsoft.com/en-us/azure/governance/policy/assign-policy-portal