Hello, I hope it's not too late for giving the answer,

Just recently I got this error too, after doing some research, I got the answer. You could try checking your Odoo log file. For my case, the log file told me that some external modules causing the error. So I tried to move this external module first (from the addons folder) to another folder (I create a new folder called x_backup) and then try again creating the database.

I hope this could help you and other people that face the same problem :D

Notes:
I got error "Character varying limit" from the external module (module: field_image_preview, attachments_preview_ms_google)