Trouble Editing Photos on a MacBook Pro circa 2015
Keep getting a cloud with an exclamation point inside when trying to edit photos. Get a message "An error occurred while loading a higher version of this photo. Please try again.
Earlier Mac models
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The cloud with exclamation point can indicate a storage problem, either on your Mac or in iCloud. Get file, folder and disk information on Mac – Apple Support (UK)
You may want to check, if you are having plenty of free storage on your Mac, so the items can be downloaded from iCloud. And if you are still having free storage in iCloud. If there should be a storage problem, move content o an external drive.
It could also be a connection problem: Is there any third party security software installed, that could be intercepting the access to Apple's cloud servers? Check any firewall or antivirus filter.