The actress stars as Cox's assistant and friend Laurie Keller in the programme, on which the former star is also an executive producer.
She told RTE: "Courteney Cox sets the bar really high for the rest of us.
"She's just so lovely, funny, sweet and incredibly generous.
"I remember when I got the show another actress friend of mine was being snotty about it and said 'well how are you ever going to be allowed be funny on that show because Courteney is the lead'. And that's just not the case, she wants everyone to shine in their own way."
Phillips also backed previous plans to change the show's title, which were earlier revealed to have been dropped.
"I feel like people already have it in their minds as Cougar Town. So I think changing the title is tricky," she said.
"But I also get it because I don't think the show is indicative of the title. I believe something else would suit it better, but I don't know how that would work. Thankfully, I don't work for the network."
Phillips previously described Cox as "incredibly open".