not enough information as to how you encounter this. Is this transaction trying to update the ID field ? Are you trying to update an asset (in the same transaction) that is not yet committed to the ledger ? See -> https://github.com/hyperledger/composer/issues/3425 for an example Have you got ACLs applied (so the participant in question cannot 'see' the asset in question due to restrictions). Suggest to post the model and the full transaction code / sample data.
can you see the asset - using the id you're submitting the txn with - in Composer playground (use the identity manager, switch user)