So I've got this far, but a broken link when the result is added to the display in ArcGIS Pro...
import arcpy
long = arcpy.GetParameterAsText(0)
lat = arcpy.GetParameterAsText(1)
point = arcpy.Point(float(long), float(lat))
loc = arcpy.PointGeometry(point)
locfeatures = r"memory\locfeatures"
arcpy.MakeFeatureLayer_management(loc, locfeatures)
arcpy.SetParameter(2, locfeatures)