Wyll's Reversal

If the target spell or ability has an X whose value was determined as it was cast, activated, or put on the stack (like Fireball does), the copy has the same value of X.

The copy will have the same targets as the spell or ability it's copying unless you choose new ones. You may change any number of the targets, including all of them or none of them. If, for one of the targets, you can't choose a new legal target, then it remains unchanged (even if the current target is illegal).

If the spell is a permanent spell with a target (such as an Aura spell), and you create a copy of it, the copy will become a token that you control. Because the spell becomes a token, the token isn't "created." Effects that care about a token being created won't interact with a token that enters the battlefield because Wyll's Reversal copied a permanent spell.