Unable to create project files for 4.8 preview 3

Ok, was worth a shot. Up next, can you get your launcher logs? You can see how to do that at the following link.

Other than that, since it may take some time to find out why exactly this is happening by looking at the logs, can you try downloading the source version of 4.8 through Github and seeing if that will work for you? The link below can explain how to do this: