If you use the command:
/setblock ~ ~1 ~ wall_sign 0 replace {Text1"{\"text\":\"Hello!\",\"color\":\"aqua\",\"bold\":\"true\"}"}
A sign is placed. However, if there's already a sign there, it will not replace it, it throws the error "The block couldn't be placed"
Thank you for your report!
However, this issue is a Duplicate of MC-117574.
If you have additional information, please add it to that report.
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