Hello, i’m new here and i got exactly the same problem.
the .origin save was created and the game won’t lauch / inifinte time launch (black screen with cursor instead of loading sreen logo with v0.1 injector)
It seems i got a solution: you need to run the game as administrator and the game can be launched and the mod folder is created (C:\Program Files\Epic Games\PhoenixPoint\Mods)
Note it seems the game can only be launch if it is run as admin (i edited the game exe properties)
Edit: Mods are working great now, note epic game launcher also need to be run as admin now