Fatal error: Uncaught Exception: Can't enable or disable the attributes lookup table usage while it's regenerating

Overview of the issue

If you are using an outdated version of WooCommerce (e.g. 6.2) and and outdated version of WPML Multilingual & Multicurrency for WooCommerce (e.g. 4.12.6) and you try to update them at the same time, you will get the following error:

Fatal error: Uncaught Exception: Can’t enable or disable the attributes lookup table usage while it’s regenerating in … /wp-content/plugins/woocommerce/src/Internal/ProductAttributesLookup/DataRegenarator.php:362

This happens because both plugins try to generate the lookup table at the same time and collide.

Workaround

Before proceeding be sure of making a full backup of your site. Deactivate and reactivate the WooCommerce plugin. It will generate the missing lookup table.