Hello @ypan,
Thanks for reaching out.
The Microsoft.Management/managementgroups/settings/write
operation available in the Azure built-in role Hierarchy Settings Administrator.
Can you verify if you have assigned user with "Hierarchy Settings Administrator" in the Root Management Group IAM also make sure you had elevated Azure AD Global Administrator account as the User Access Administrator role to the Root management group as detailed here.
If you have already setup these roles then you must see your user account displayed as shown below when you go your Root Management Group IAM blade. Hope this helps.
-----
Please "Accept the answer" if the information helped you. This will help us and others in the community as well.