No, it starts with file://
-- that means "use the file
protocol" in the same way that http://
means "use the http
protocol". Everything after file://
is the absolute path to the image. Even so, it should work in a browser, although some do have security restrictions over what they can and can't access.
What's the browser, how are you copying the link in Obsidian, what does your clipboard show after you copy the link in Obsidian (switch to the Finder and from the "Edit" menu select "Show clipboard")?