The following should work provided the document and the two folders exist

Sub test()
Dim wd As Object, ObjDoc As Object
Dim bOpen As Boolean
    On Error Resume Next
    Set wd = GetObject(, "word.application")
    If Err.Number <> 0 Then
        On Error GoTo 0
        Set wd = CreateObject("Word.Application")
        bOpen = True
    End If
    wd.Visible = False
    Set ObjDoc = wd.Documents.Open(ThisWorkbook.Path & "\maketemplate.docx")
    ObjDoc.SaveAs2 Filename:=ThisWorkbook.Path & "\Custom Office Templates\maketemplate.dotx", FileFormat:=14
    ObjDoc.Close
    Set ObjDoc = Nothing
    If bOpen = True Then wd.Quit
    Set wd = Nothing
End Sub