We weren't able to reproduce – or rather, we were able to verify it works. Created a link to a VBS file, used part of the path in a rule as you have it there and turned on "Keep rules applied", and it moved it as expected.

Might you be able to share that link file?

Thanks Litcube, we're looking into it but can confirm that that specific file, when using Windows' link parsing libraries (IShellLink), returns empty for the target. Going to the target file and creating a new link, adjusting the title and icon created a link file that worked fine. But using that specific one you sent returns empty from IShellLink. So, we'll have to see if there's anything we can do. Just giving you the update

It seems we were able to get the file to fix itself when we changed the path in any way. For instance, changing the target to this:

C:\Games\Playnite\ExtensionsData\8e48a544-3c67-41f8-9aa0-465627380ec8\.launchScripts\\9d3d83f5-b9a5-454e-9ed0-cf276abaab02.vbs

Seems like that rebuilds the file.

I'm wondering if something funky going on with how Playnite builds its shortcuts, that Windows has an internal shim for to cope but that's not applied to everyone else.