This FAQ covers the most common causes and resolutions for failed test sends or undelivered test emails in Marketing Cloud Engagement Email Studio and Content Builder.
Engagement - Marketing Cloud Test Sends Not Received
https://help.salesforce.com/s/articleView?id=000382628&type=1
Error: 'Missing physical address' for emails that contain a physical mailing address
https://help.salesforce.com/s/articleView?id=000387316&type=1
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