I have not seen that error before, either. It possibly could mean that there is some legacy media (clips in an old format) that is not supported in iMovie. Check the format of the clips in your project. If they are a legacy format, such as .avi, you can convert them to Mp4/AAC with the free download, Handbrake, and see if they can be exported.
You can get Handbrake here:
https://handbrake.fr/
A simple way to do it is to open Handbrake and do a File/Open Source. Navigate to your video and choose it as the source from the resulting screen. Then do File/Start Encoding. Wait a couple of minutes for the conversion to complete. Then save and import the converted clip into iMovie.
Also, lpcm is an audio codec. It is used when you export at the Best Quality (pro res) setting. Try exporting instead at the High quality setting that will give you an Mp4 with the AAC audio codec. See if that works.
Other than that, you should update/upgrade your operating system and iMovie version to the highest versions that you can get.
You can update iMovie 10 with this procedure: To update/redownload iMovie 10, drag your iMovie 10 app from the Applications
folder into the trash, but do not empty the trash. Sign in to the app store and open your purchases folder by clicking on your name at the bottom of the app store side bar. (NOTE: For El Capitan and older, click on the Purchases tab at the top of the app store screen and then sign in. Click on Purchases again to reveal your purchases.) You will see your purchases displayed, including iMovie 10. Redownload/update iMovie from there. If not successful, drag your present iMovie app out of the
trash and return it to the Applications folder.
-- Rich