The version seems ok (1.7; the current version supports writing 1.8 and 1.7, so that should not be a problem.
It seems a bit odd that there are several <format> tags without any <asset> tags, but I can't say for sure if that is normal.
The error message suggests some text elements have an attribute that is unknown: "roll-up-height".
You may look here: https://developer.apple.com/library/archive/documentation/FinalCutProX/Reference /FinalCutProXXMLFormat/Adjustments/Adjus…
to see what "roll-up-height" means (I did not know it either).
You may also make a copy of the xml file and open it with BBEdit.
Maybe editing or remove these fields may allow the xml file to be imported.
(Of course, there is great potential for making the file invalid, that is why one should always make a copy).
If you want, you may post the whole file somewhere so we can download and take a look, or send it to me by e-mail (lichinho at icloud dot com).