Images are not packed. In material, the normal map texture is set to sRGB, that should be Non-Color.
Still, it won’t fix the problem. Both the high and lowpoly object have bad topology. It’s an attempted model with an inside mesh as well - it has a thickness. In many places these overlap, so the inverted “inside mesh” is poking through the “outside mesh”. You can easily see this yourself with viewport overlays/face orientation. There shouldn’t be anything showing up in red on the outside, and nothing in blue on the inside - for a solid model at least. A hollow model, I’m clueless, I’ve not seen that done before Only if he was supposed to be a shelled glass model would that make sense.
Basically, I don’t think there is hope to get a good bake on those meshes in their current state. Others feel free to disagree, this is outside my comfort zone. The model is also about 20 meters tall, which will have an impact if using inverse square lighting.
Edit: Oh man… It was his clothes in separate meshes. That improves things, but I still see some problems. Clothes meshes have inside faces poking through. And I can find holes in the man mesh.
Bad separation job, but you get the idea.