You cannot use dotnet commands to work with .NET Core projects that were created using a version of Visual COBOL before 7.0. Instead, you can either continue to use such projects using the Visual Studio IDE and the msbuild command, or upgrade them in order to be able to use the dotnet commands.
To upgrade a pre-7.0 project file so that you can use the project with dotnet commands you need to do the following:
<Project Sdk="Microsoft.NET.Sdk">to:
<Project Sdk="MicroFocus.Sdk"
<LanguageTargets
{ "msbuild-sdks": { "MicroFocus.Sdk": "1.0.16" } }
For more information on modifying your .cblproj and global.json files to do this, see Microsoft: How to: Use MSBuild project SDKs.