I’ve successfully registered a custom taxonomy and assigned it to the ‘user’ object. It actually all works fine. The only issue is there is no default UI for managing the taxonomy. I have CMB2 (ACF may work too) to choose the taxonomy term(s) for the user.
A tip on how to manage the taxonomy:
Also attach the custom taxonomy to another post type (like posts), then you can add the terms, descriptions, etc via the Posts/taxonomy UI and they will show up (via ACF/CMB2) in the user profile.
It’s working well for me this way right now.