Adding a GeoTIFF generated by LP360 to ArcGIS does not show in the correct location.
Currently ArcGIS, including 10.x and Pro, does not have a full implementation of Well Known Text (WKT) format for projection definitions in .prj format, specifically the COMP_CS tag and the way it handles False Easting and Standard Parallels.
This issue has been communicated to ESRI and may be fixed in the future.
Probable Resolution #1:
Two workarounds exist, for all versions of ArcGIS you can use the Define Projection geoprocessing task and re-assign the correct projection to the file.
Probable Resolution #2
The other workaround, which only works for ArcGIS Pro, is to simply remove the .prj file from the same path as the GeoTIFF and then reload the GeoTIFF. ArcGIS will then use the projection definition from the EXIF tags of the GeoTIFF.