The necessary file to download can be found here: https://www.micron.com/~/media/documents/products/sim-model/nor-flash/serial/bfm/n25q/n25q128a13e_3v_micronxip_vg12,-d-,tar.gz

Once this file has been downloaded a folder named 'Micron_N25Q128A13E' should be created in <top_level>\hardware\m3_for_arty_a7\testbench, and the contents unzipped into the newly created folder.

After the file has been unzipped navigate to <top_level>\hardware\m3_for_arty_a7\testbench\Micron_N25Q128A13E\sim and copy sfdp.vmf to  <top_level>\hardware\m3_for_arty_a7\testbench\ and restart Vivado, and load the project.

The message dialog upon project load should now look like this:

If you have the this board https://www.digikey.in/short/jv13rj then you will want to download this file: https://www.cypress.com/file/260026/download and extract it into <top_level>\hardware\m3_for_arty_a7\testbench and restart Vivado and reload the project.  If you do not have that board then you can just ignore the message.

Now when the project is loaded and the Board diagram opened there should be no errors or warnings.