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Sorry to hear that you are facing issues with Adobe Stock services.
I believe you have saved the free template in a particular library from within the Photoshop application. I would suggest you to go to that specific library on which you have saved the template and delete the file from there.
Also, please click on this link: Adobe Creative Cloud to open the library panel and you can get all your saved files in the different libraries which you have created.
Feel free to update this thread in case of any additional questions.
Thank you for your help. However, the issue I'm facing is that I don't actually know where the template has been saved on my computer. When I downloaded the template, I was not given an option as to where to save it - it just saved. I have also gone to that Adobe CC link that you provided and deleted a "Stock Templates" folder which included the template in question, although that doesn't seem to have done the trick. When I open Photoshop, it still shows the template as being installed on my computer.
What I understand from your post is- The file is not saved in any CC library. As you have mentioned that when you open Photoshop, the template is installed on your computer, I would suggest you to check the file under "downloads" on my computer.