Converting WKT to SHP?

If it's a one-off operation, you can install the QuickWKT plugin for QGIS.

Press the Black/Red WKT Button: and enter your WKT:

And press OK. That will add the layer. Then right-click to save the vector layer choosing the ESRI Shapefile format and including the z-dimension:

You can use the builtin arcpy function: http://desktop.arcgis.com/en/arcmap/10.3/analyze/arcpy-functions/fromwkt.htm

Something like this will get you there:

fo = open(inFile,'r')
wktString = fo.readlines()
fo.close()
polyGeom = arcpy.FromWKT(wktString[0],sr)
arcpy.CopyFeatures_management(polyGeom,os.path.join(outFolder,outName))

OpenJUMP zip installation https://sourceforge.net/projects/jump-pilot/files/OpenJUMP/1.9.1/ is portable and does not require special rights but java must be installed on the computer. I fear that it would be difficult to call OpenJUMP from external scripts. For that purpose I recommend the GDAL VRT route.

With OpenJUMP all you need to do is to create a new layer and copy WKT data through a clipboard with Ctrl-C / Ctrl-V. However, you can do the same also with a special tool "Add New Features".

Finally save into shapefile with Save as...