Maven issue: Project does not have a parent

Here's a excerpt of my pom.xml

...
<parent>
  <groupId>com.mycompany.xxx.yyy</groupId>
  <artifactId>sdk-parent</artifactId>
  <version>1.2.0</version>
  <relativePath />
</parent>

<artifactId>my-app</artifactId>
...

When doing a

mvn versions:update-parent

I keep getting a "Project does not have a parent" message.

Any idea why this might be happening?

For the record I'm using Maven 3.6.0, Java 1.8.0_202, Windows.

Also, I already did a mvn install on the parent dependency.