It would be useful to have a list view for unplaced labels. Chicken peck searching visually isn't very helpful when the map is very busy and/or there are lots and lots of labels.
https://community.esri.com/t5/arcgis-pro-questions/unplaced-label-list-view/m-p/1239349#M63199
You can change the color of unplaced labels on the Map Properties dialog.
The best way to work with text that isn't placed is to convert the labels to annotation and work through the unplaced features editing each one. The Status field can be used for querying these features.
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