@Cesar Rullier, the vertical offset between the initial position of your images (blue) and the computed position of your images (green) and an expected, though not ideal, behavior. As Jordan pointed out, the initial position of your image, DJI_0047.JPG, is 12.65 below mean sea level while the computed elevation is 210.50 feet above mean sea level. Unfortunately, you are not the only person who has experienced the same vertical offset. The vertical offset in your image geotags is one of the reasons we recommend that you at least consider incorporating 3D ground control points for any Pix4D project.
I understand that the offset can look strange, and may even make navigating through your scene difficult, which is why I recommend that you hide the _Initial Position _and Position Error for your images in Camera Display Properties after verifying that your images are in the correct position.
If you would like a second opinion, please consider verifying the reported elevation of your images’ geotag in a third party software, e.g. Windows Explorer.
@Jordan, thank you very much for your contribution.