Cannot create Elastic Beanstalk environment with CLI: "The following resource(s) failed to create: [AWSEBInstanceLaunchWaitCondition]"

I'm trying to create a new Elastic Beanstalk environment with the EB CLI but it keeps failing even though I've created an identical environment with the console which succeeds exactly as expected.

The command I'm running:

$ eb create my-new-environment --verbose --timeout 15 --single --process

The error I'm getting:

Stack named 'awseb-e-vpxgijpjkq-stack' aborted operation. Current state: 'CREATE_FAILED' Reason: The following resource(s) failed to create: [AWSEBInstanceLaunchWaitCondition].

Here's my config file:

# .ebextensions/settings.config

option_settings:
    aws:elasticbeanstalk:managedactions:
        ManagedActionsEnabled: true
        PreferredStartTime: "Thu:04:00"
    aws:elasticbeanstalk:managedactions:platformupdate:
        UpdateLevel: minor
        InstanceRefreshEnabled: true
    aws:elasticbeanstalk:command:
        DeploymentPolicy: AllAtOnce
    aws:elasticbeanstalk:environment:
        EnvironmentType: SingleInstance
    aws:ec2:instances:
        InstanceTypes: t3.medium
    aws:elasticbeanstalk:cloudwatch:logs:
        StreamLogs: true
        DeleteOnTerminate: true
        RetentionInDays: 1
    aws:elasticbeanstalk:application:
        Application Healthcheck URL: /health
    aws:autoscaling:launchconfiguration:
        MonitoringInterval: 1 minute
    aws:autoscaling:updatepolicy:rollingupdate:
        RollingUpdateType: Immutable
    aws:elasticbeanstalk:application:environment:
        PORT: 3000

Here's my .elasticbeanstalk/config.yml:

# .elasticbeanstalk/config.yml

deploy:
  artifact: out.zip
global:
  application_name: my-application
  branch: null
  default_ec2_keyname: null
  default_platform: 64bit Amazon Linux 2 v2.0.2 running .NET Core
  default_region: eu-west-1
  include_git_submodules: true
  instance_profile: null
  platform_name: null
  platform_version: null
  profile: null
  repository: null
  sc: git
  workspace_type: Application

The only other results I've found for AWSEBInstanceLaunchWaitCondition mention that the VPC may have not been set up correctly, but this is for a single instance environment without a VPC so I don't know where to even begin to solve this. Or could this just be a bug in AWS or the EB CLI?