I have recently just realised that Rhino can export SAT files but unable to import SAT files. Is this correct? Or am I missing something?
No, you are not missing anything. Here are a few options:
Thanks for clarification and the quick response!
A bit older topic but: for a free solution, there is FreeCAD workbench which can import SAT to FreeCAD. From there, one can export to .dwg and import the .dwg to Rhino.
SAT → New DWG in AutoCAD → Import SAT → Save as DWG → Open DWG in Rhino