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Can't change policies of a project event though I am its owner

I have a project called, let's say, "Orange Octangulars" under an organization "Acme corp". As I can see on https://console.cloud.google.com/iam-admin/iam, I have the role "Owner" in "Orange Octangulars". I have also given myself the role "Project IAM Admin" just in case, so I have two roles in "Orange Octangulars". I am trying to allow external IPs for VM instances in "Orange Octangulars". I do so by going to https://console.cloud.google.com/iam-admin/orgpolicies/compute-vmExternalIpAccess (under the project "Orange Octangulars") and I want to press "Manage policy". Unfortunately, that button is greyed out and the error message, when I hover over it, says:

You need permissions for this action.
Required permission(s):

Orange Octangulars
All of orgpolicy.policies.create, orgpolicy.policies.delete, orgpolicy.policies.update, and orgpolicy.policy.get

What's up with that? I am an owner and a project IAM admin of the project. Why can't I manage this policy or any other policies for the project?

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