I'm having the same issue. What I found is that there seems to be a limit as to how large the c code file in Vitis can be.
Here is the scenario as to how I discovered this:
In Vivado, I created a block design with a microBlaze and four axi_gpio(s)
I wrote C code in Vitis to initialize and read / write to the axi_gpio(s)
I included "Hello World" to verify that the COM port was working. It did.
When I added extra lines to the C code, I found that too many lines of code caused the "Executables selected for download on to the following processors doesn't exist or incorrectly specified. Do you wish to ignore and proceed? 1. microblaze_0"
I clicked 'Proceed' (as suggested above) and the program didn't run.
I removed the extra lines of code (which were printf statements), and then the program worked.
Question:
Do I need to make a memory module larger in the block design to accommodate the larger C code file? If yes, which memory and how?
This might not answer your question, but perhaps it will help with your troubleshooting.
Hope this is helpful,
Curtis