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you can't update a look up fieldd via workflow...you need to use a trigger to achieve this functionality.
Mark solved if it resolved your issue.
thanks
vishnu R
It is not possible to update a lookup field using Workflow.
However, it is not necessary to resort to using a Trigger.
You can update a lookup field in a Flow, which in turn can be triggered from Process Builder, if the Flow is an Autolaunched Flow.
Keith
This will guide you to update lookup field,
How to auto populate Look up Field using Process Builder----->>>https://help.salesforce.com/apex/HTViewSolution?id=000220643&language=en_US
As detailed above, you can update the lookup field directly in Process Builder, but you may find the update options limited.
Depending on how you want to source the new Id for the Lookup Field you may need use a combination of Process Builder and Flow.
Keith