While executing the Reproject Point Cloud Task to take data from a known Spatial Reference System (SRS) to a custom or user-defined coordinate system (32767) the user encounters an error message stating, “Error using the output coordinate system: Failed to set target coordinate system from WKT. GDAL importFromWKT() returned 5.
Probable Resolution #1:
The custom or user-define coordinate system as defined by the WKT in the user selected PRJ file has some error in the formatting. Follow the suggested guidelines in the Creating a User-Defined Coordinate System from a Known Coordinate System post to fix the issues with the PRJ.