Why?

[Absol_Z]

.........

[CK1]

What exactly is the issue here?

[Absol_Z]

The pnach files failed to load....

[Fornoreason1000]

I think you are in the wrong folder. I could be wrong but according to that log you posted. PSCX2 is looking for the cheats in My Documents but your PNACH is in Program Files.

It also appears to be on another drive C: to F:?

What PSCX2 is looking for: "C:\Users\erik\Documents\PSCX2\cheats\77E61C8A.pnach"
Your location : "F:\Program Files(x86)\PSCX2 1.4. 0\Cheats\77E61C8A.pnach"

I'm not sure if PSCX2 is supposed to check both of these locations, but in this case its only checking one.
To make it work simply move your PNACH file to the directory it is looking for.

[Absol_Z]

   
   

  No. 1.3.txt (Size: 8,76 KB / Downloads: 270)
   
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[jesalvein]

Please post the contents of the emulog.txt file after the problem occurs. The file can be found in "My Documents\PCSX2\logs" for the installer version or in "PCSX2\logs" for the portable/binary version.

[Fornoreason1000]

........

ok now that your PNACH is loading according to the second log you posted after you moved it to the correct location.  in order for anyone to help why your cheat is not working , the contents of the pnach file would be helpful.  but your .pnach file is in fact loading now.

[jesalvein]

glad you got it solved