After some digging, I found a cool new command that makes it possible to use custom mod settings. Basically, these client game settings are called every time the mod is activated.
Let's say for example that you would like to have a different player nick name in a certain mod, or would like to have different plane mouse sensitivity. Of course, you could create a new profile in the game menu and name it based on the mod settings you want. But with game.settingsPath, that will not be necessary.
With that command, you can have custom settings for any compatible BF1942 mod. The custom settings will work ONLY IN THAT MOD, not the default BF1942 mod. Also, you can modify settings in CON files from the Settings folder that are not changed in the game menu, and these settings will be applied to your mod. For example, for debugging purposes, I like to play FHSW in windowed mode so that I can use the Debugger. No problem, all I need to do is change the fullscreen setting from 1 to 0 in the VideoDefault.con of my mod's Settings folder, and the mod will load in windowed mode.
Basic usage is:
where MOD_NAME is the name of the mod for which you want the custom settings to work.
This command has to be placed in the init.con of your mod to work. In addition to this, you will have to copy the Settings folder from mods/bf1942 to mods/MOD_NAME/, or a faulty Settings folder will be generated in the parent directory of your mod.
I think this should work online properly, although I haven't tested it.