You're using the PAL (Europe) version of the game, this hack only works on the NTSC (US) version. This also means you'll have to play in english.
I just tried out this hack and the latest version of dolphin keeps crashing when I throw a bullet punch during the 1st battle, 5.0 stable works fine though. Is that normal or something's wrong on my end ?
Edit : Nevermind fixed it, forgot to disable panic handlers somehow. However I found out that 5.0 is much slower than the latest beta version (literally 2x slower in some areas, R5 2600 GTX 1660 DX11 Dual core off and 16:9 gecko code), so I highly recommend you don't use 5.0. If the author could confirm and include this in the recommended setup, that would be really nice. Awesome hack btw.