With PDFLaTeX package roboto loads fontenc after changing some defaults but before changing the default family. So, while loading fontenc still cmr is the valid family. The package is one of the exceptions that are actually reloaded on every \usepackage or \RequirePackage. So the line
\usefont\encodingdefault\familydefault\seriesdefault\shapedefault
in the file is executed, even if you'd load the package yourself before roboto. And at this time \familydefault is still cmr. This results in a (in your case not needed) selection of a light condensed version of cmr, that does not exist.
You can simply ignore the warning. If you really, really have to avoid the warning, you can disable loading package fontenc inside roboto (and optionally load is yourself before the package):
\documentclass{article}
\usepackage{fontenc}
% NOTE: I DO NOT RECOMMEND TO DO THIS, BUT IT MAKES THE FONT WARNING GO AWAY.
\makeatletter
\disable@package@load{fontenc}
\makeatother
\usepackage[sfdefault, light, condensed]{roboto}
\makeatletter
\reenable@package@load{fontenc}
\makeatother
\begin{document}
Roboto font does not give a warning. Produces light condensed text.
\end{document}
But of course this is at your own risk!
\DeclareFontShape{\encodingdefault}{cmr}{lc}{n}{<->ssub*cmr/m/n}{}, here. It defines the font shape that is missing to prevent any warning. – dikdirk Apr 26 '23 at 15:33