Person EIT value set values to be filtered based on country

We have flexfield in PERSON EIT flexfiled "Insurance Category" which currently has list of values. Those values has to be filtered based on Country.

I have fallowed this document but not working.

Fusion Global HR: How to Restrict Values by Country Tag in a Custom Value Set (Doc ID 2906915.1)

getting below error:

In application 800, descriptive flexfield PER_PERSON_EIT_EFF, and context Medical Insurance Number, the bind variable :{PARAMETER.LEGISLATION_CODE_VALUE} in the value set INSURANCE CATEGORY used by segment INSURANCE CATEGORY is not valid."

Please assist on achieving this requirement.

Thanks,

Sunny