You did not move the message box down to show what output device is selected.
What audio device are you attempting to use?
You also did not show the sample rate, buffer size, or number of periods settings, and as the message indicates “Typically caused by hardware parameter settings.”
Since you have not indicated what hardware you are attempting to use nor what parameter settings you were attempting to use it is difficult to offer help.
Pisound HAT by blokaslabs is another excellent choice that also comes with physical MIDI I/O ports, and a preconfigured RPIOS “spin” running JACK as a system service, called PatchboxOS.