I used the tool following the manual and it worked like a charm.
It is a bit of a hassle that you can only assign one set of printers per user or group. Most of our customers only have 1 or 2 printers but we have a few that have a lot more (up to 20). For these customers, this method of deployment is too cumbersome but you could argue that with so many printers, you are better off with a dedicated print server.
Also the logging in event viewer could give a bit more information. For instance show the name of the printer as well as the ID of the printer being installed.
During the first try on an almost clean machine I noticed that I could see the printer from applications and in "Control Panel" but not under "settings --> devices --> printers and scanners". The default printers ("fax" and "Microsoft print to PDF") were also not visible. Restarting the spooler or the machine did not solve the problem. This was observed on a Windows 10 1909 Dutch language. It is unclear if the problem existed before installing the Universal Print applications through Intune.
Reinstalling the machine did solve the problem so it might be unrelated but I thought, I'd share this experience nonetheless.