CPQ Billing: Cancel and Rebill fails with error "AR Status cannot be modified"

When an invoice is posted, the AR Status and AR Action fields on the Invoice, as well as the AR Status field on the Invoice Lines, must be blank in order to perform a Cancel and Rebill operation (after the first attempt at Cancel and Rebill, these fields are populated. If issues occur, they are typically not reverted automatically).

You may encounter an error like the following:

FIELD_CUSTOM_VALIDATION_EXCEPTION, AR Status cannot be modified.: []
Class.blng.InvoiceDomain.changeARStatusInvoiceLines: line 603, column 1
Class.blng.InvoiceDomain.handleAfterUpdate: line 415, column 1
Class.blng.TriggerManager.triggerHandler: line 171, column 1
Class.blng.TriggerManager.triggerHandler: line 48, column 1
Trigger.blng.InvoiceTrigger: line 16, column 1