This error could mean a couple of things.
But most of the time, it's due to dynamic topology in alembic file (when number of vertices/faces are changing during animation). Such alembic file cannot be imported at this time.
Number of vertices in OBJ and Alembic files must be the same on frame 1 and be se same throughout the entire alembic animation.
If alembic target prop has more than one material, then you must apply physix weight map for each material regardless whether soft cloth became active for this prop after applying map to the first material.
You can apply any dummy B/W image to each material slot in physix weight map property. Otherwise you'd get mentioned error on import.