This paper studies the problem of fixed-time output consensus tracking for high-order multi-agent systems (MASs) with directed network topology with consideration of data packet dropout. First, a predictive compensation based distributed observer is presented to compensate for packet dropout and estimate the leader's states. Next, stability analysis is conducted to prove fixed time convergence of the developed distributed observer. Then, adaptive fixed-time dynamic surface control is designed to counteract mismatched disturbances introduced by observation error, and stabilize the tracking error system within a fixed time, which overcomes explosion of complexity problem and singularity problem. Finally, simulation results are provided to verify the effectiveness and superiority of the consensus tracking strategy proposed. The contribution of this paper is to provide a fixed-time distributed observer design method for high-order MAS under directed graph subject to packet dropout, and a novel fixed-time control strategy which can handle mismatched disturbances and overcome explosion of complexity and singularity problem.