What pre-loading actually gets you before launch
Rockstar says eligible digital pre-orders can pre-load and code-in-box owners can begin after redeeming their code. That lets the console do the download ahead of November 19. The install status in your library is a useful first check if you’re getting ready early.
If the game is installed but the console still shows a countdown, check the store listing and make sure you’re signed in to the account that owns the game. Keep the store page or order receipt handy if the entitlement appears to be missing.