You are having the same issue I am experiencing. I am pleased the YouTube workaround video is giving you a chance to see then PPM in action.
I also witnessed some unusual screen patterns when PPM first started up via this method.
It is very frustrating … and I managed to upgrade to v1.01.1 but I am now finding the workaround unreliable. Especially as v1.01.2 may offer a software fix.
https://community.projection.philips/t/software-update-v1-1-01-v1-1-02-are-available-now/7443/36?u=telboy
Can @Philips_Support_P offer a downloadable firmware upgrade method which allows an auto run via usb stick plugged in to PPM on power up please?