Freeing up space · Local snapshots and held space
What does the "freed by past relocations may still be pinned" banner mean?
Short answer: Folders you moved are on your fast drive, but snapshots from before the move still hold their old space. Click Reclaim to clear just enough snapshots to release it.
It appears in the Local Snapshots window when folders you've moved to your fast drive haven't shown their freed space yet. The folders really are on the drive, but your Mac's snapshots from before the move are still holding the old space.
Clicking Reclaim [amount] clears just enough snapshots to release that much space. Once you've reclaimed, the banner stays hidden until a new move adds more. Most of the time you won't need it, because Storage Studio already releases space after each move — see why freed space shows right away.