Need Help with IF Statement with Countif

Hi Smartsheet community. I have been working on a formula and it has not been working. Wondering if I am going about it the wrong way?

I am working on a lessons learned project sheet where i am confirming if a root cause issue is being repeated or if it is new. This information is in the same sheet.

My formula is below. The column I am referencing is in the same sheet as the formula and I am getting a #invalid ref error.

=IF(COUNTIF({Root Cause / Observation - Issue}, [Root Cause / Observation - Issue]@row > 1), "Repeat", "New")

Any help would be greatly appreciated!

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