Proposed resolution:

This wording is relative to N4594.

1. Insert a new paragraph before [fs.op.exists] p2 and edit it as shown:

   bool exists(const path& p);
   bool exists(const path& p, error_code& ec) noexcept;
   

   -?- Let s be a file_status, determined as if by status(p) or status(p, ec), respectively.

   -?- Effects: The signature with argument ec calls ec.clear() if status_known(s).

   -2- Returns: exists(status(p)) or exists(status(p, ec)), respectivelyexists(s). The signature with argument ec returns false if an error occurs.