EC2 Image Builder: Role does not exist or does not have sufficient permissions

The IAM role specified in the recipe will be passed as RoleName input parameter for ImportImage API. This role will be used by VMIE to perform certain operations on your behalf and should be assumable by vmie.amazonaws.com. Verify the trust policy of your role and make sure that vmie.amazonaws.com is in the principal list.

VM Import/Export Requirements - Required service role - https://docs.aws.amazon.com/vm-import/latest/userguide/vmie_prereqs.html#vmimport-role

Example trust policy for VMIE role:

{
   "Version": "2012-10-17",
   "Statement": [
      {
         "Effect": "Allow",
         "Principal": { "Service": "vmie.amazonaws.com" },
         "Action": "sts:AssumeRole",
         "Condition": {
            "StringEquals":{
               "sts:Externalid": "vmimport"
            }
         }
      }
   ]
}