over 1 year ago - AndrewT - Direct link
If you hover over that icon, it will tell you what it means. Most likely the latest save is from a previous game version.

What happens if you hit PLAY there exactly?

Can you start the game from ck3.exe run directly from file explorer?  
over 1 year ago - AndrewT - Direct link
To find the installation folder for any Steam game, right click on it in your Steam Library, Manage, Browse Local files.

Then, in this game's case, you go into the Binaries folder.