The output raster dataset cannot be created. It is possible that the output raster dataset format does not support the output orthocorrected raster data type.
Select a proper output raster format for the orthocorrected raster output. When storing a raster dataset in a file format, you need to specify the file extension: .bmp for BMP, .gif for GIF, .img for an ERDAS IMAGINE file, .jpg for JPEG, .jp2 for JPEG 2000, .png for PNG, .tif for TIFF, or no extension for Esri Grid. When storing a raster dataset in a geodatabase, no file extension should be added to the name of the raster dataset. A raster dataset stored in a geodatabase can be compressed; you can specify a compression type and compression quality within your environment settings.