Missing Profile in Lightroom?

I have lightroom on my MacBook pro with the creative cloud. I have been using it for a while and after updating to lightroom 7.3 I apply a preset to a raw image as I have done previously and now get the error "profile missing" with an exclamation point next to the profile tab. It is a preset that I have bought online. Not all the presets have the error but each one gives a different missing profile name. I'm not that familiar with the profile tab in lightroom.

Any ideas with what this means and how i can fix it?