'Item Not Found' after catalog all pictures

[jkristia]

I have just installed ACDSee Photo Studio Home 2021.
I have all my pictures on OneDrive, but locally downloaded.
I ran catalog folder, and now I see all the pictures in the thumbnail view (year, month or week), however, when I select an image to view it I get this error

"ACDSee Photo Studio could not locate the file on your system, however ....."

This happens for any picture I tried.
Any idea why this is ?

Thanks