The bearings in Phil hubs can be replaced, so there's no reason to worry about imminent bearing failure, since it's a bridge you can cross if/when you get there. The hubs aren't adjustable for axial play, and depend on precise locations of the shoulders in the shell and on the axle. It's possible that you can correct for play by not pushing a bearing fully into the shell, or by micro spacing behind it at the axle or shell.

All in all I wouldn't fret over this, though I can't help you more without having the hub in my hands.