Have you licensed the image or downloaded the preview?
Preview has a watermark which is not there when you license the image.
Is there a screenshot that I can refer to or the image number so that I can help you?
One of the images which I'm having this issue with is the following image number #94435211
I licensed the same image at my end, but I was able to get the correct image without any watermark or exclamation mark.
I checked the image in Photoshop and Illustrator applications as well.
Could you try to download it again as I can see that you have already licensed it successfully?
Can I download it again though Photoshop; as so hopefully the smart object updates as to not display the exclamation mark ?
Since I could see that you have already licensed the image all you need to do is just download in via the Adobe Stock website or open it directly in Photoshop through the Stock website.