Hi Meher Preetham Kommera
First ensure that the names you're trying for the LUIS resource instance are unique and that they comply with Azure naming rules. Azure has specific naming requirements, including lowercase letters, numbers, hyphens, and no spaces. - this is the most common cause of error.
make sure you are not using reserved words or names that are already in use.
My suggestion is to retry with Different Names, If a specific name is not being accepted, try using a different name for the LUIS instance. Sometimes, certain names might be restricted or already in use. In your case kindly change the name and try again.
If this helps kindly accept the answer thanks much.