Scam

That looks like a legitimate warning from the MacOS about weak password(s) you are using.

See https://www.macworld.com/article/553490/safari-compromised-password-warning.html which I summarize below.

To be sure it is legitimate, go to

Safari > Preferences > Passwords

Enter your Mac login password.

Locate and select the appropriate entry under Security Recommendations. Examine the details.

If no warning exists within the Safari preferences, you may have encountered a phishing attempt. If, however, the same alert does appear, you should probably change the password for that account immediately.

If the warning is present in Safari Preferences, a Change Password on Website button should also be present. Clicking it will take you to the relevant page where you should be able to reset the password for the affected account.

If you’re associated with the Australian government, then visit that site directly and not from a suspicious pop-up box telling you what to do. 👋🏼😎

There is no way I would click on the link in the message box. I would follow the advice provided by Smilin-Brian