How do we change our main Thumbnail image that was uploaded as a part of the Asset for Thumbnail View? There isn’t a discernible way for us to update the Thumbnail manually uploaded via the view and it’s not being replaced by the Latest Version checked-in even though the Thumbnail is supposed to update to the latest versions for the linked entity which from what we understand is the default thumbnail standard configuration yet it only reflects the original upload.
Any direction that can be provided would be very helpful!
This depends on the thumbnail field settings.
Try right clicking your asset Thumnail field when it’s displayed in a row structure and go to it’s options.
It can be set to a query so it displays the thumbnail of the latest asset version (you can filter our versions you dont want)
Thank you so much in taking your time to try and assist me Ricardo,
What I am trying to change is the overall asset thumbnail (Number 2 in the image below) however, I think your guidance showed me how to change the version thumbnails (Number 1 in the Image below)
Would you or anyone else know how to change the thumbnail of the overall asset?
Thanks in advance,
Mark 
If you hover over the thumbnail field then it shoudl display a little icon on which you can click and a context menu will apear with a button to “replace thumbnail” just like the one for versions.
However it seems like something is already there in your screenshot so best thing would be to open the “Assets” page, expose the “thumbnail” field and right click it and “Configure Field” which will display the options for that field.
It could be that your Asset Thumbnail field is seto to use a Query to update it’s image (i.e. from the latest version published onto it).