I have red circles showing up instead of the product image. I see the thumbnails but no product image.
This started happening recently. The site had been working correctly for approximately 16 months prior to this happening. Any help or direction would be greatly appreciated.
may be you will need to update your theme to latest version to compatible with latest wordpress 5.3.
But I would like to recommend please contact theme Author and let them know How to Contact your purchased theme Author (you can use comments to post your query in theme comments page), theme author will be happy to assist you.