Hello Raj,
dist3 is a folder generated during a Basilisk build, and as such is not captured in the BSK version control system. So it makes sense that you can't find it anywhere prior to build.
I'm not familiar with the Windows build process but I would try the two-step approach of running
python conanfile.py --buildProject False first, and then look for the dist3 folder that should have been created. The second step should be to run
make or
make -j from inside the dist3 directory.
This could help you catch the root cause for dist3 not being created in the first place