You can do this one of two ways:
Using two commands per direction, where the first is triggered by pressing the POV hat in that direction ("Shortcut is invoked only when all buttons are released" unchecked) and presses the keyboard key, and the second is triggered by releasing the POV hat ("Shortcut is invoked only when all buttons are released" checked) and releases the keyboard key
Or, using one command per direction, where the command is triggered by pressing the POV hat in that direction ("Shortcut is invoked only when all buttons are released" unchecked), and runs a loop while it remains pressed:
Press down D key
Start Loop While : Joystick 1 POV 1 Button 3 Is Pressed
End Loop
Release D key