WAYPOINT just means that EDDiscovery could not find any system near that location in its database. It doesn't mean that there is no system nearby, only that no systems known to EDSM are nearby.
Note that the EDDiscovery route plotter was designed when the 1000ly in-game plotting limit was still in effect (the limit for economical and for plots filtered by visited systems is still 1000ly, but the limit for fastest is 20kly).
Perhaps one thing we can do is to suggest a c0 or d0 procgen system name to look for near the waypoint (a Procgen Sector AB-C c1-0 system can be anywhere in a 40x40x40 cube and will not be a neutron star, while a Procgen Sector AB-C d1-0 system can be anywhere in a 80x80x80 cube and there is a chance it'll be a neutron star). Note that in very sparse areas such systems may not actually exist.
Okay - thank you! Now I understand it - so the only way to go about it (besides doing something about the jump range) is, to enter the last system before a 'Waypoint' into the Galmap and look around if other reachable systems are near it and if a path can be found. I do not know if you can see 'Undiscovered' systems in the Galmap if you are elsewhere, and not in the last reachable system itself. Will check this out...