Well, I did some more playing around with the game on my Hackintosh, and I found out that the .app package that comes with 0.47.0 lossless starts without any issue. I tried the same thing with 0.47.0 ultralight-other because that's the one specifically labeled for Mac and Linux. That .app package extracted fine, but would not load. Generating a 0.47.0 ultralight-other build on my Hackintosh yields a .app package that starts normally (after allowing the app to run through System Preferences -> Security & Privacy) on its own and the updater works without issue.
The only thing I can figure out is that the Ren'Py SDK that I am using is generating slightly different.app files from what is in the downloads already linked in this thread.
In case anybody else with macOS wants to give this a try, here's my 0.47.2 ultralight-other build I generated and tested on my Hackintosh. I did notice that the .zip I ended up with is slightly smaller than the one linked in the first post here, at about 68.8 MB.
Mega