This error message occurs because the owner of the smart query has configured the smart query to not "allow other users to modify this query". To resolve the issue have the owner of the query perform these steps:
  1. Click Analysis > Smart Query Search
  2. Search for and select the smart query
  3. Click Edit Definition
  4. Click on the Set save Options tab
  5. Mark "Allow other users to modify this query"
  6. Click Save
If the user that created the query is no longer at your organization please chat with support and reference this knowledgebase article