You may see that some items in Brightspace do not have any alternative formats and tell you you can reprocess them.
These items will have a greyed-out icon with a slash through it instead of the Alternative Formats icon. When you click on the icon, you will get a message that states: "HTML File Is Empty - Alternative Formats cannot be generated because the HTML file is empty. If the file has been updated and is no longer empty, please click Reprocess to generate formats."
If you do not have any content in the description of the item (content module/submodule, assignment, quiz, discussion), there is nothing that Panorama can reprocess or provide an alternative format for. If that is the case, you can ignore the icon. This is not flagging any accessibility issues.
Note that Panorama does not access quizzes at all, other than if you have content in the quiz description.