Thank you for the response. Sorry for the delay.
We tried to use the flags suggested in the previous response.
We modified the C, CPP and Assembly compiler flags using the S32 design studio environment as reference.
Assembly files do not compile and throw unrecognized opcode, if -me500 flag is not used, as shown in below image:

So, we added -me500 flag in our compilation. Below are the assembly flags:
"ASFLAGS = -g3 -mbig -mregnames -me500"
For C and CPP files, we added -mcpu=e200z7 and -meabi as suggested in the previous response. We removed -mfloat-gprs=single, -memb and -mlra
For C files below are the compiler flags:
CFLAGS = -meabi -mabi=spe -mregnames -Wa,-mregnames -Wa,-mbooke32 -misel \
-mspe -mhard-float -O0 -g3 -Wall -c -fmessage-length=0 -fstrict-volatile-bitfields -ffunction-sections \
-fdata-sections -mcpu=e200z7 -mbig -mvle -mregnames -mhard-float -std=gnu99\
For CPP flags below are the compiler flags:
CPPFLAGS = -meabi -Wa,-mregnames -misel \
-mspe -mhard-float -O0 -g3 -Wall -c -fmessage-length=0 -fstrict-volatile-bitfields -ffunction-sections \
-fdata-sections -mcpu=e200z7 -mbig -mvle -mregnames -mhard-float \
-fno-default-inline --param max-inline-insns-auto=0 -fno-inline-functions \
-fno-rtti -fno-exceptions -fno-enforce-eh-specs -fno-builtin -fno-threadsafe-statics -fno-gnu-keywords \
-fno-nonansi-builtins -fno-operator-names -nostdinc++ -Wabi -Wreorder -Woverloaded-virtual -Wsign-promo -Winit-self \
-Wswitch-enum -Wextra -Wfloat-equal -Wunreachable-code -fsingle-precision-constant \
Below are the linker flags used:
"LDFLAGS = -EB -N -v --gc-sections --sort-section alignment -warn-common"
After setting the above compilation flags. We are still getting undefined instruction error, while execution. Please check the below diagram.

Please help us to resolve the above issue. Kindly let us know if more information is needed,
Thanks!
Even after successful compilation and linking .cpp object code has instruction undefined.