Yes, Smart Check will not let you proceed because Schedule K-3 has been delayed in its release. Once the form is ready, you will be able to proceed past this point and e-file your return.
As a work-around, you have the option to e-file your 1040 return now and amend later in the year when the form is available. However, if this income relates to foreign assets, you will need to wait until Schedule K-3 is released and updated in TurboTax.
Otherwise, to allow your 2021 personal tax return to be e-filed without Schedule K-3, return to the Schedule K-1 entry for this investment. Uncheck the box for Box 14 and continue. This change should clear the Federal Review process and allow you to e-file.
Once you receive your refund, or are certain that your return has been accepted and processed by the IRS, you can check for TurboTax updates until Schedule K-3 has been released. At that point, you may amend your return.
Second issue: Certain items (generally labeled "Other") on your K-1 may need to be entered in different places in TurboTax. Consult the instructions that were included with your Schedule K-1. These should tell you the form and line where the amount should be entered.
For Section 199A from Box 20Z, follow these instructions: How do I claim the Qualified Business Income Deduction as a Schedule K-1 Recipient?
More info: How do I amend my 2021 return?
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