Cannot display or echo alt text on featured image

I am not so sure of what I am going to say, but from a fast look, $featured_image is an array (URL, width, height, is_intermediate). so assuming that your alternative text exists in this array, you need to specify its index like this:
$featured_image[index_of_alt_text]
according to my understanding, the $featured_image array doesn’t contain your alternative text or you didn’t specify the index.

I hope it helped

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