I bought a plugin from Plugin Alliance recently and the presets aren’t showing up in Cubase.
They are however available in VE Pro. What is the story here?.
System specs? Wich plugin? Wich VST version?
Wher do you expect the presets?
Windows 10, Black Box HG-2MS, VST3, in the drop down on the plugin UI inside Cubase.
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Did you ever figure this out? I’m having the same issue with the same plugin in Cubase 12.
Nope! I had to manually re create each preset and save them in Cubase. 
Did you try to scan the disks for content with the media bay?
It is just working on my machine, since I always let the media bay scan the system after an update.
Yup! I updated results in the Media Bay and did a search for ‘MB_Snare’ which is a preset for Black Box HG-2MS and nothing came up. Maybe it’s just a PA thing? Because preset for all my other plugins show up.
VST2 or VST3?
Can you access the preset from the menu in plugin GUI?
Did you do a scan?
Negative, for the first question. And by scan, do mean hit the spinny arrow icon? because yeah, I did do a scan/update. 
Did you open the media bay at least once? F5?
It scans the system only when open. It builds a searchable database from your content.
I tried to search the preset. I can find it in the media bay, but not in the preset list from the plugin. Then I realised there are two different plugins with nearly the same name.
One is Black-Box HG-2 and the other one is Black-Box HG-2MS. I only own the version without MS but the preset from the MS version is still present on my system. But in the wrong folder.
By doing a search for ‘MB_Snare’ in the Media Bay and achieving zero matches, I can conclude that the presets are not available in Cubase.