Did you run New-HoloDeckConfig command before running the New-HoloDeckInstance command? This will create and load the config in your current powershell session
https://vmware.github.io/Holodeck/#run-holodeck-deployment
You can run $config in your powershell session to check if the config is actually loaded. If you see nothing and you already created the config, you need to run:
Get-HoloDeckConfig - get the config ID, then
Import-HoloDeckConfig -ConfigID <ID from above>