So, succesfull pupulist can create always not existed or random realm, or also curretly established for example king of France hold Duchy of Normandy as secondary and normandy populist want his own, local ruler ?
Populist Factions prefer to usurp an appropriate existing title if possible. For example, if the Umayyads conquers all of Spain and then lose to a Castillian Catholic Revolt, the new King will take the title of the King of Castille, either usurping it from the Umayyads (if they hold it) or creating it (if it has been destroyed). Only if that is not possible will they generate a new dynamic revolt title, which will be named after the most powerful county in the faction.
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