To get Nvidia Profile Inspector working with PSO2 again, same with Nvidia Settings themselves (And most likely AMD Catalyst), the profile name needs to be:
100b7a24.oxyna_wyfsmff9ynw7j
From there you can mess around with the settings and get better antialiasing, ambient occlusion, etc. Using the "Phantasy Star Online 2" profile that comes up in the selectable profiles doesn't work.
Screenie of the Nvidia Profile Inspector overlayed with the game. Also have some Reshade settings turned on (Cartoon, Vibrance and a PirateFXAA, to keep the text readable from the Cartoon filter).