What about updating layers in Photoshop?

Question

Layout

You need to make a layout. When opened in Photoshop, a window pops up:

If you update, then the font changes a little, and if not, then the text layers have this icon:

What to choose and what does he want to update?

Answer 1

The icon and the request means that the font is not installed in the system, but he wants to update to the nearest suitable one (in his opinion). If you refuse to replace, then the font will not change and will be rendered roughly as a picture and editing without replacing or setting the original font will not work. So demand the appropriate fonts from the designer, they will be required during layout anyway.