Also check if your "new Windows PC" actually has the "customised" font installed and available.
You could try and re-edit the watermark and change the font to another.
Note that not all Windows fonts will work in Lightroom (for reasons unknown to me)
Can you tell us what font you are trying to use?
What file format are you exporting into William?
If its a JPG the following might apply: Lightroom: Watermark omitted from embedded thumbnails of exported JPEGs.
If appropriate please add your vote and opinion to make it more likely Adobe will prioritise a fix.
I'm trying to use 'Gabriola'. This is one of the fonts available in the drop-down menu under [edit watermarks] in LR itself. Export is successful with a few other fonts from the same drop-down. It appears that some work, some don't.
Thanks for the link. All of my metadata is complete. Not having a problem with the thumbnails. Just doesn't seem to work.
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I just tested the Gabriola font and in the Watermark Editor it will only show the text if the font size is smaller than 12!
If I push the slider past 12 then the watermark text disappears.
Other fonts I can enlarge much greater.
So I cannot say if it is a problem with Lightroom or the font.
You could post the problem at- Lightroom Classic CC | Photoshop Family Customer Community where Adobe engineers may see the problem.
Another option would be to use Photoshop to create a Graphic (PNG) file using the Gabriola font, then use the 'Graphic' in the Watermark editor instead of 'Text'.
Maximum size for Gabriola (~12)
Size fully adjustable for other fonts-
A Graphic made in Photoshop-
Thank you so much for your help!!