Several months ago I put multiple days of intense work into migrating a large suite of ETL models/scripts, in preparation for a new project we have going on. At that time, I had all the models nicely modified and working for the new schema we need to match.
Today I revisited that toolbox and found that roughly half of the models will not open at all:
I can't find any way to walk-back my work and untangle this mess, so it would appear that this partially corrupted toolbox just needs to go in the trash while I start over from scratch.
A quick search reveals that this issue has plagued model builder for quite a while, through many versions. I am using Pro 3.3.5 on a Windows 11 machine.
One resolution I've seen on the internals is the Support Services analyst received a copy of the *.atbx from the customer, opened it on their ArcGIS Pro 3.4.0 installation, create copy of the shared toolbox and provided the copy back to the customer. That seemed to address the error messages. Perhaps this workflow would work for you as well?