ModelBuilder Failed to Create New Model

[SpencerMauch]

Hello,

I am trying to use ModelBuilder in Arc GIS Pro.  I have used it successfully in times past, however, it is now failing.  Whenever I click ModelBuilder on any project, I get the message found below "Failed to create new model". Any suggestions of what might be the issue?

[DanPatterson]

Pro version?

BUG-000158118 for ArcGIS Pro (esri.com)

more details regarding your environment would be useful 

[SpencerMauch]

Hi Dan,

Thank you for your help, my Pro Version is 3.1.2.