It seems the options for PLMXML to CATPRODUCT conversion are limited, yet some dedicated CAD conversion programs like the CrossManager should be able to directly convert PLM XML UGS files to Catia product files. The other option would be to first export PLMXML to some other format acceptable in Catia and save it to CATPRODUCT format.
Convert PLM XML UGS data to CATIA product description document.
We have found one software suitable in our database for this conversion.
Microsoft Windows software - convert plmxml to catproduct on Windows
A CAD converter with huge format support
Convert from plmxml file format
The table with program actions contains information about what each program is capable of doing with their files. This may be a good pointer for further searches for certain file conversions and help you find the converter you are looking for if our search result is insufficient for you. However, it is far from perfect and may sometimes show results which are not really usable because of the nature of the software handles the files. So a conversion that appears as possible, just because of matched actions, may in fact not be possible.