As suggested by William Morrish you can use the “import 3D” tool that will import the 3D multipatch object but you have to be very careful with units and coordinates with the same.
In my case, I was able to import the 3D object but was unable to change the projection & coordinate values as they have already had coordinates but the wrong one.
I used a different way i.e. to import your 3D model to SketchUp and from SU you can convert it in DAE formats finally you can import this DAE formatted multipatch into arc pro using the "create multipatch" tool. In this way, you won’t face the georeferencing problem.
Thanks and regards