Navigate to the location of the project you shared from iMovie for iOS or iPadOS, and select it.
If you have more than one library open in iMovie, click the Library pop-up menu at the bottom of the window and choose the library you want to import the project into.

Note: If you import a project that uses a Magic Movie or storyboard theme that is not included with iMovie on your Mac, the imported project uses the default iMovie for Mac movie theme.
Note: It is possible that if you are using the most recent version of iMovie on iPhone or iPad, you may get an error message that the project cannot be imported.