When I open this image in PS it only shows the subject as transparent

Hello, which PS version are u using ?

Can you tell us where you obtained the PNG file?

Did it have a descriptive file name that might help you figure out its purpose?

The lads have suggested possible reasons for why the file has the transparent area, but the bottom line here is that PNG images have no layers, or hidden content.  What you see is all there is to it.

Did you plan to use the file in a particular way?  Perhaps we can help you if you give us more information?

Looks like the png is supposed to be that way so one can easily change the colors of the hoodie by putting a color fill adjustment layer below the hoodie layer like in the example below.

Maybe someone provided you with shadow/highlights so you can create layer below, fill it with color of your choice and voila!