It can't work with your POD, I'm afraid. Louis XIV Protestant policy was, during the first half of his reign, the continuation of Richelieu's :tolerating the Reformed Church as long as it doesn't clash wth the King's policy. After that, obviously, he opted for the "catholic-statist" solution : conversion or exile. But, in both cases, France wouldn't have, in any case, encouraged a massive Protestant settlement in its American colonies. Strategically, the Huguenots would have been considered as potential allies for a British or Dutch raid on the colonies, would the relations between colonies and France proper. Politically, the colonies were (loosely) ruled as a part of France proper and the Huguenot problem would prevail, especially if the settlement zone is the Caribbean. Of course, an organized Hugenot colonisation would have been beneficial for the economic take-off of New France, but this matter was not prevalent in France's policy until the Regency.
The only solution, IMO, would be a private colonisation of some part of America by a French private company, owned by Hugenot entrepreneurs (probably from La Rochelle, the only major port with a sizeable Huguenot population), that would not, for any reason, be sized by the State. You could have some "Compagnie de la Religon pour les Indes Occidentales", settling in some part of the eastern American shore with some half-assed support of France, then gaining some autonomy is the last part of Louis's reign, after the French defeats of the 1695-1715 era.