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If you do need a shell loop to process that, you could use read's IFS-spliting to split on |s instead of using awk:

#! /bin/bash -
shopt -s extglob
trim() {
  typeset -n _var
  for _var do
    _var=${_var##+([[:space:]])}
    _var=${_var%%+([[:space:]])}
  done
}
{
  IFS= read -ru3 header_discarded
  while IFS='|' read -ru3 rev svn_path file download_options rest_if_any_ignored; do
    trim rev svn_path file download_options
    # do what you need with those variables
    typeset -p rev svn_path file download_options
  done
} 3< input_file.txt

Here, on your sample, that gives:

declare -- rev="1336"
declare -- svn_path="svn/Repo/PROD"
declare -- file="test2.txt"
declare -- download_options="PROGRAM APPLICATION_SHORT_NAME=\"SQLGL\""
declare -- rev="1334"
declare -- svn_path="svn/Repo/PROD"
declare -- file="test.txt"
declare -- download_options="REQUEST_GROUP REQUEST_GROUP_NAME=\"Program Request Group\" APPLICATION_SHORT_NAME=\"SQLGL\""