You have asked this question several times before over the years.

Is the shortcut for a program application or a folder or document?

Programs do not usually change location. Whereas you might have either moved or deleted a document or folder.
Use the search function to find the original. Make a note of the exact location. Then right-click the desktop shortcut -> Properties -> Target.
Do the locations match or does the new location need to be typed or copy-pasted into the Target box?



Alternatively use the Open File Location button & direct the locator to where the item's new location is.