@NarcoticV, I ran into this issue as well, and you help guide me to a solution. I'm not android project expert, but it looks like the generated build.gradle already has a default path setup for you. Based on yoru post, "libs/debug" and "libs/release" is the default path.
Initially I dragged my .so file in there, but it still wasn't packaging it up in the "lib" folder of apk. It turns out you also have to add another folder for the type of arm build you are doing, then it will pick it up and pack it correctly. For example, if you are building for armeabi-v7a, add your .so file like so:
This is why your '../../addons/godot_ovrmobile/libs' path works because it has this extra folder. Refer to this output in your initial post.
Note the extra "arm64-v8a"
I'm not sure why Godot does't automatically copy it here based on the library directories set up in the library UI tool set for the default builds. It might be a bug or maybe they just want to give you complete control. At any rate, I will add the copy logic to my build scripts to automate this.
On a side note the abiFilters is probably also considered as well when appending "armeabi-v7a" or "arm64-v8a" to the "libs/debug" or "libs/release", so make sure that is correct. This is the default generated setting:
String exportabilist = getExportedEnabledABIs()
if you follow the function "getExportedEnabledABIs" into "config.gradle", it creates the filter for "armeabi-v71", "arm64-v8a", and other arm build types.