"Target" is a variable for worksheet event, not for Module procedures.

If anything, it should be:
For worksheet module:
Private Sub Worksheet_Change(ByVal Target As Range)
    If Target.Cells.Count > 1 Then Exit Sub
    
    If Target.Column = 11 Then
        Call CAP_PD_DEPOSIT_TRANSFER(Target) 'Passing a "Target" object to the "CAP_PD_DEPOSIT_TRANSFER" procedure
    End If
End Sub
For "Module1" module:
Sub CAP_PD_DEPOSIT_TRANSFER(rngTarget As Range) '"rngTarget" to not confuse with "Target"
    'Wherever "Target" occurs, replace it with "rngTarget", i.e.:
    If Target.Value = "RLCMO" Or Target.Value = "RPCMO" Then
    'to
    If rngTarget.Value = "RLCMO" Or rngTarget.Value = "RPCMO" Then
    
    'but
    
    If Target.Cells.Count > 1 Then Exit Sub 'remove it from here
    
    If Target.Column = 11 Then 'remove it from here
        'keep commands inside
    End If 'remove it from here
    
    'Correct the constructions "If ... Then ... End If" i.e. uncomment 'End If
End Sub