I have talked to my office admin team through my work organization and they are unsure of why it is occurring either. I asked a coworker if they were able to get to their templates and they are, which makes me believe that it is a individual issue rather than my whole organization. They were working fine an hour ago and isn't now so not sure what changed in that moment.
As for your steps to try- I can't add a new template because when I click on the "my template" button the sidebar doesn't even pop up for me to have an option to create a new template.
I have tried both a different browser and incognito mode and neither are allowing the function to work either. I also tried submitting a ticket to the admin center, but Microsoft said I did not have permissions since this is on a work computer. Again, as said before I have already talked to my IT and they're not sure of the problem's origins either.
Thanks