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I've been trying to create a data science project on the IBM Watson Studio but keep getting the error (An error occurred. You can only have one instance of a Lite plan per service. To create a new instance, either delete your existing Lite plan instance or select a paid plan.) on my window screen.

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As the error says, you are trying to create a service/resource that already exists in your account. Lite services are limited in how many you can create. Try linking to the existing one.Simon O'Doherty
With a lite account you are also locked to the region where you created your first service/resource.Simon O'Doherty

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To echo Simon's comment for similar concerns, linking to an existing service that exists in your account should overcome the issue you're encountering.