The problem is that `memcpy()` doesn't know about (of course) string terminators, so you have to do a separate call to `strlen()` to figure out the length, thus visiting every character twice which of course makes no sense at all (spoken like a C programmer I guess ... since I am one).
If you already know the length due to other means, then of course it's fine to use `memcpy()` as long as you remember to include the terminator. :)
But the fifth reason may be that depending on snprintf as your "custom-validator-and-encoder-plus-null-terminator" may introduce subtle bugs in your program if you don't know exactly what snprintf is doing under the hood and what its limitations are. By using memcpy and a custom validator, you can be more explicit about how data is handled in your program and avoid uncertainty.
(by "validate" I mean handle the data as your program expects. this could be differentiating between ASCII/UTF-8/UTF-16/UTF-32, adding/preserving/removing a byte-order mark, eliminating non-printable characters, length requirements, custom terminators, or some other requirement of whatever is going to be using the new copy of the data)