1. When creating a Service Account (IAM), provide a description string that will fail validation (e.g. throw in some dollar signs) and click Create
2. Confirm that validation has failed
3. Edit the description to be valid and click Create
4. Validation still fails

It seems that no matter how one edits the field, the failed validation prevents the user from proceeding. The only way to fix the matter is to cancel the process and start over.