@Dzenan Bejdic Thanks for reaching out. I am able to reproduce the same error in East US region.
Please note that the availability varies by region. If you don't see GPT-4 in your region, please check back later.
Due to high demand, quota availability is limited in the East US region. If you're trying with East US region, as a workaround try deploying the service to another region, listed in the below table:
GPT-4 and GPT-4 Turbo Preview model region availability is mentioned in this article.
My recommendations would be to try deploying to another region mentioned in the above table, depending on your GPT 4 model.
Hope this helps. If you have any follow-up questions, please let me know. I would be glad to assist you.