Lightroom normally stores RAW edit settings in its catalog, not in the RAW file itself. So if you move folders in Finder instead of inside Lightroom, Lightroom loses the file path and your edits appear missing.

Best practice:

• Keep the Lightroom catalog on your local drive.
• Add the NAS as a storage location inside Lightroom.
• Move folders from local storage to the NAS using Lightroom’s Folders panel, not the operating system.

If you already moved them outside Lightroom, reconnect them by right-clicking the missing folder and choosing Update Folder Location.

For extra protection, enable metadata writing:

• Automatically write changes into XMP
• Include development settings in metadata for JPEG/TIFF/PNG/PSD

With RAW files, Lightroom writes edits to XMP sidecar files unless you use DNG, where metadata can be stored in the file itself. This helps preserve edits if files are moved or re-imported, though the catalog is still the main source Lightroom uses.

You can also use Smart Previews so you can browse and even edit while the NAS is offline.