Polypropylene melts too easily, and can also catch fire. I wouldn't use it under a PCB carrying mains voltages. Bare FR4 (which is officially specified to be fire retardant), or another purpose made electrical insulation sheet, would be a far better choice, punched with holes, or notched for the mounting posts so it cant slip out of place and held down with 3m VHBtape.
Another consideration is the type of metal and its thickness, as what's safe and effective for mounting to thick steel sheet almost certainly wont be the best choice for mounting to thin aluminum.
You also may have to consider external appearance, e.g. would protruding hex bolt heads be unacceptable? On some types and thicknesses of metal, flush exterior fastenings robust enough to be safe may be impossible.