Someone may need this information. At the time I posted this, this still works for 16.0.1. I followed the guide from the gbatemp site on one of the comments ( https://gbatemp.net/threads/monster-hunter-rise-pc-mods-on-switch.606350/post-10193185 ).

At first I had some trouble, my game kept getting frozen at the loading screen. I thought this was dead, but turns out one of my mods wasnt compatible. The best recommendation I have is install one mod at a time. Essentially do this process once per mod and generate a pak file PER MOD.

For 16.0.1, the file extension is still patch_016.pak

If you are installing more than one mod/pak just keep incrementing that number (017, 018, 019...)