This project is certainly covered under the Ancient UNIX licences.

"Later, in January 2002, Caldera International (now SCO Group) relicensed (but has not made available) several versions under the four-clause BSD license."

https://en.wikipedia.org/wiki/Ancient_UNIX

Nobody is going after a v7 Unix port, the sources for ancient Unix are widely distributed on TUHS (The Unix Heritage Society, tuhs.org) and such.