What it checks
Every file is measured against all 33 store dimensions we track — 26 App Store slots and 7 Google Play ones — in both orientations, because a slot accepts its size transposed.
Then it applies the rules that are not about the pixel count: Google Play refuses any image whose long side is more than twice its short side, both stores take only PNG or JPEG, and neither accepts an alpha channel on a screenshot. That last one is the most common rejection of all, and it is invisible until the store refuses the upload.
What "no matching slot" means
Apple accepts an exact list of dimensions per display class, not a range. If your file is not on the list, App Store Connect refuses it however good it looks — usually because it is a raw capture from a device Apple does not list, or because it was resized to a round number.
Google Play is the opposite: it publishes bounds rather than sizes, so almost anything between 320 and 3840 px passes as long as it stays inside the 2:1 rule. That is why one design has to be exported twice — see App Store and Google Play side by side in the full size table.