After clicking on the "New Schedule" icon from the Schedules dialog and selecting a Catalog Type, choosing the Properties I want to include and then pressing OK, I always get the error "The Parameter is incorrect".
In this particular case the error was discovered to be the result of a custom DataGroup classification system that included invalid data, though it's possible a similar symptom could be seen from a custom DataGroup catalog type or item as well.
In order to troubleshoot this type of issue you can use the DataGroup System Validator by choosing File > Dataset Tools > Validate. More information about this tool is available via the online help: https://docs.bentley.com/LiveContent/web/OpenBuildings%20Designer%20Help-v2/en/ARCH_DataGroupValidationDbox.html