Phasing out Banisher Priest

Suppose you control a Banisher Priest enchanted with a Splinter Twin. You make a token that's a copy of Banisher Priest, and exile some creature with it. Then someone phases the token out using Reality Ripple. Question: Will the exiled creature return to the battlefield?

Banisher Priest has the following ability: "When Banisher Priest enters the battlefield, exile target creature an opponent controls until Banisher Priest leaves the battlefield" (emphasis mine.)

An object that phases out is not considered to change zones nor leave the battlefield.

A token that phases out ceases to exist as a state-based action. As far as I know, it's undefined by the rules whether "ceases to exist" constitutes "leaving the battlefield".

Likewise it's apparently not defined whether Banisher Priest's ability (or any of such new-style temporary exiling abilities) will end when the object they are tracking phases out. (After all, they are looking for the event "leaves the battlefield", and this event never happens.)

It seems to be that (as of writing this post) this is yet another situation where the rules of the game are incomplete, as they do not clearly and unambiguously define what should happen.


Update: It seems that the official interpretation from Wizards is that the creature does not return and will remain exiled indefinitely.