Swift 4.0 modules were fine in Swift 3.2 apps with Xcode 9.0.
But now, with Xcode 9.1, I get:
Module compiled with Swift 4.0 cannot be imported in Swift 3.2.1
Or:
Module compiled with Swift 4.0 cannot be imported in Swift 4.0.1
Swift 4.0 is compatible with Swift 3.2 only.
Swift 4.0.1 is compatible with Swift 3.2.1 only.
So:
To formulate it differently:
If the module was built by you, simply rebuild it with the same Xcode.
If the module was built by a third party, request an Xcode 9.1 compatible build.