This is the Troubleshooting Guide for the message Waiting for TESV
If you see the "Waiting for TESV" message in the main SPM window:
it means that SPM is waiting for the TESV process to begin running. SPM is using the path that you entered in the SPM Setup Window. This screenshot is an example, and shows the default path:
SPM is basically looking for the corresponding process to be running in the Windows Task Manager.
If you have a mod which renames the TESV.exe to something else, then that is what you will need to enter into the SPM Setup window.
If you're using another launcher process like SKSE, or Mod Organizer, then you will need to make sure that they are properly configured to launch TESV.exe (or whatever your particular file name is). Please see this article for more detail: Using SPM with SKSE, Mod Organizer, and other Launchers
If the "Skyrim Main Program File Path" is not setup correctly, or the setup of your alternate launcher is not correct, then SPM will not be able to find the running process, and will continue to display the "Waiting for TESV" message until this is setup correctly.