This prompt is indicating that ProTools, Adobe Audition or Adobe Premiere detects that the Waves brand of audio plugins are installed on the computer. It is asking you to show the application where those plugins are located.
Using the open window navigate first to the applications folder. Then within the applications folder navigate to the Waves folder. Within the Waves folder select the Plug-ins V9 folder and click open.
This should complete the fix for this problem and the program should resume opening.
If you keep receiving the same window prompt click cancel because there is an issue with the software and you will need to put in a support ticket to have it resolved. by clicking cancel the application will resume opening but you will not have access to the Waves plugins.