While using pyinstaller to create a compiled exe file various errors occur and the exe does not get created. This will undoubtedly be resolved in a future revision of pyinstaller but for the time being you just need to install the development build to resolve it.
Run the following from command prompt to install a 3.8 compatible version of pyinstaller.
pip install https://github.com/pyinstaller/pyinstaller/archive/develop.tar.gz