Exactly. It's outside the habitable zone of its star, thus not transformable.It can be a water world that is too cold (or hot, but generally cold) for human life but not for other forms of life that are better adapted outdoor. Because of the location, it is not possible to terraform it into a world that is fit for human life as to get the pressure liveable, it may drop to temperatures that are too low.
There's a little more to it than that, though. It might have an atmosphere that's just too toxic, for example.but 'water' by its name means its in the habital temperature range, otherwise its an 'ice' world.
but 'water' by its name means its in the habital temperature range, otherwise its an 'ice' world.