This is the issue that I had:
Mapped plugin module "C:\Program Files (x86)\Thrustmaster\TARGET\Plugins\sys.dll"
Physical USB HID devices managed by script!
Currently plugged USB HID devices[1]:
1: "T.16000M" - "USB\VID_044F&PID_B10A&REV_0500"
Installing filter driver to VID_044F&PID_B10A. Please Wait...Script stopped!
Done!
Error: (internal) cannot associate a filter with the selected USB HID device "VID_044F&PID_B10A"
Runtime Error: STOP request received while running main on line 21 in "C:\Users\Username\AppData\Roaming\Thrustmaster\TARGET\Scripts\123.tmc"
Error: Script run timed out!
What I did to remedy this.
1. Unplug joystick and uninstall Drivers, then TARGET
2 Deleted all Thrustmaster folders in >Program Files, Program files x86, and Users\UserName\AppData\Roaming
3 Went to Device Manager>View> show hidden devices
4 (make sure at this point al your regular USB devices such as phones, printers and headphones are connected to USB) DO NOT CONNECT your Thrustmaster device
5 Right clicked and uninstalled all greyed out Universal Serial Bus controllers, Human Interface Devices. ( for a good measure look through other categories to make sure there isn't a greyed out Thrustmaster device somewhere there)
6 Restarted the PC
7 Plugged in my joystick and let Windows install drivers. I did not install drivers from thrustmeter support downloads. What that changed is that now my joystick is displayed as a Thrustmaster Virtual Game Controller (root) : Status OK. instead of T.16000m FCS : Status OK.
8 Installed TARGET and bound some bottoms to act as F keys. Issue solved, works fine in game as intended.
As a side note as I was assigning the F keys to the Thrustmaster buttons I left all the layers ( I, O, U, M, D) in default state unlike advised in YouTube tutorials.
Hope this helps.