As mentioned by Isaac Ineh-dumbi, please confirm the network contributor access is given for 2 networks to be peered.
Contributor or Network Contributor role on both VNets (for creating peering).
The issue is related to the inability to sync address spaces between the VNets, as pointed out by the error, due not having the required Network Contributor access to the other virtual Network.
1 peerings are unable to connect to all the address spaces in this virtual network and must be synced. You must have contributor access to the peered virtual network to sync the virtual networks.
Please ensure that peering is configured in both directions, preferably via code, chek the sample code Deploy Azure Virtual Network Peering with a Terraform Module and also check that Network Contributor permissions are granted on both VNets.