"Files" application says "Unable to access location, mount point does not exist" when clicking on NFS server in "Other Locations"

I am on Ubuntu 20.04 LTS. I click on the "Files" application, and then I click on "Other Locations" at the bottom of the sidebar. Among other things, it shows an NFS server on my network:

I click on "WhiteAndNerdy (nfs)", and this message pops up:

What exactly does that mean, and how do I fix it?

Updates:

Here is what I get when I right click on "WhiteAndNerdy (nfs)":

Here is what I get when I run sudo /usr/bin/journalctl --since="-5 minutes" immediately after clicking on "WhiteAndNerdy (nfs)":

-- Logs begin at Tue 2021-09-21 10:51:35 PDT, end at Thu 2021-10-14 20:13:43 PDT. --
Oct 14 20:10:36 midnight-star NetworkManager[22487]: <info>  [1634267436.6278] policy: set 'Wile E. Coyote' (wlo1) as default for IPv6 routing and DNS
Oct 14 20:13:13 midnight-star NetworkManager[22487]: <info>  [1634267593.7695] policy: set 'Wile E. Coyote' (wlo1) as default for IPv6 routing and DNS
Oct 14 20:13:20 midnight-star sudo[22733]: ppelleti : TTY=pts/0 ; PWD=/home/ppelleti ; USER=root ; COMMAND=/usr/bin/journalctl --since=-5 minutes
Oct 14 20:13:20 midnight-star sudo[22733]: pam_unix(sudo:session): session opened for user root by (uid=0)
Oct 14 20:13:30 midnight-star sudo[22733]: pam_unix(sudo:session): session closed for user root
Oct 14 20:13:43 midnight-star sudo[22738]: ppelleti : TTY=pts/0 ; PWD=/home/ppelleti ; USER=root ; COMMAND=/usr/bin/journalctl --since=-5 minutes
Oct 14 20:13:43 midnight-star sudo[22738]: pam_unix(sudo:session): session opened for user root by (uid=0)

To mount a disk, you must have a pre-existing directory, a node in the filesystem that the mounted filesystem will overlay.

The error message "Mount point does not exist." is complaining that you don't have a pre-existing directory, or that you misspelled your mount point.

Rght Click on the filesystem's icon, open preferences, and check where it wants to mount, and ensure this directory exists.