Download and install the latest AviSynth+ (with vcredist)
https://github.com/AviSynth/AviSynthPlus/releases
Download the latest MvTools
https://github.com/pinterf/mvtools/releases
Extract x64 from the archive (DePan.dll, DePanEstimate.dll, mvtools2.dll) to C:\Program Files (x86)\AviSynth+\plugins64\ (adjust the avs script if avisynth is not installed in this directory)
In PotPlayer:
Preferences
  -> Filter Control
    -> Video Decoder
      -> Built-in Video Codec/DXVA Settings
        -> Use DXVA
          -> Checked
        -> DXVA2 Copy-Back
          -> Select D311 with the GPU
  -> Avisynth
    -> Enable AviSynth processing
      -> Checked
    -> Add "potplayer_source()"
      -> Checked
    -> Leave other checkboxes on default
    -> Load Script
      -> Select or copy the avs script below
avisynthplus_motion_interp.avs
SetMemoryMax(512)
SetFilterMTMode("DEFAULT_MT_MODE", 2)
SetFilterMTMode("FFVideoSource", 3)
potplayer_source()
LoadPlugin("C:\Program Files (x86)\AviSynth+\plugins64\mvtools2.dll")
super=MSuper(pel=1, hpad=0, vpad=0)
backward_1=MAnalyse(super, chroma=false, isb=true, blksize=32, blksizev=32, searchparam=3, plevel=0, search=3, badrange=(-24))
forward_1=MAnalyse(super, chroma=false, isb=false, blksize=32, blksizev=32, searchparam=3, plevel=0, search=3, badrange=(-24))
backward_2 = MRecalculate(super, chroma=false, backward_1, blksize=8, blksizev=8, searchparam=0, search=3)
forward_2 = MRecalculate(super, chroma=false, forward_1, blksize=8, blksizev=8, searchparam=0, search=3)
MBlockFps(super, backward_2, forward_2, num=60, den=1, mode=2)
Prefetch(4)
I could never get this script working right, so I just kept using SVP3 (last free version).
If anyone wants to give it a shot, this is made mainly for 3D movies but it can still be used as a regular player: https://github.com/ThreeDeeJay/PotPlayer3D/releases/latest