Error code 80048539 occurs when attempting to import solution patch in Dynamics 365

When attempting to import a solution patch in Dynamics 365, you encounter the following error:

"The import of solution: [solution patch name] failed.
Error code 80048539."

If you download the log file and open it in Excel, you see additional details such as the following:

Symptom 1 Details:

"Failure 0x80048539
Solution manifest import: FAILURE: Patch version 1.0.1.0 is invalid for parent version 1.1.0.0"

Symptom 2 Details:

"Failure 0x80048539
Solution manifest import: FAILURE: Holding solution MyPatchTesting_Upgrade already exists."

Error code 80048539 indicates an invalid patch is being imported. There are a few potential causes including the following:

Cause 1: If you see the error details mentioned in the Symptom 1 Details section mentioned above:

The solution patch version is lower than the version of the solution already installed. For example: A solution named SolutionA is already installed with version 1.1.0.0 and you are trying to import a patch that is version 1.0.1.0.

Cause 2: If you see the error details mentioned in the Symptom 2 Details section mentioned above:

This can occur if you already have an upgrade imported for that solution but it has not yet been applied. After importing a solution that is an upgrade of an existing solution, the end of the solution import provides a button to apply the solution upgrade. If you did not click that button during a prior import of a solution upgrade for this solution, you need to locate the solution in your solutions list and click the Apply Solution Upgrade button. 

Resolution 1: If you see the error details mentioned in the Symptom 1 Details section mentioned above:

Verify the solution patch version you are trying to import is a higher version than the solution already installed.

Resolution 2: If you see the error details mentioned in the Symptom 2 Details section mentioned above:

Navigate to Settings, Customizations, and then click Solutions. Select the existing installed solution you are trying to upgrade and then click Apply Solution Upgrade.