Hi Utsavi,
I have the same problem and was wondering if you solved your issue. I have the exact error you show in your screen shot with UTIL1. But I also have this issue with the CS1, TMOUT1, CLS1, WAIT1, and USB1:FLS_USB_Stack components. For me, everything was working until I added the USB1 component. Like Erich said, it relies on other components - CDC1, which relies on Tx1:RingBuffer, which relies on CS1. And CS1 has the same issue as UTIL1. But I don't know how to fix the lowest level components. They all reference KSDK1:KinetisSDK as you show in your screen shot. But I have that in Referenced Components and it has no errors. It seems like the other components can't find KSDK1.
My co-worker has a project set up in which these components all work perfectly. So we assume we have some difference in installation, paths, versions, etc, but after a couple of days of comparison, we haven't found anything.
I'm also using KDS 3.2.0. Here are screen shots of Installation Details and Components:


Thanks,
Roger Horton