The fixed version isn’t even right.

Please drink the soda [located] in the fridge

There’s no ambiguity unless the sign had an arrow pointing to “the” soda as the subject. It obviously doesn’t because the soda isn’t visible while it’s in the fridge. It could be ambiguous as:

Please drink soda in[side] the fridge

But then pink highlighter wouldn’t get to feel clever 🥸👎