You’re unable to save a preset of your outboard i/o’s. So if Cubase for whatever reason forgets your settings you have to reconfigure it.
Simply changing interface or swapping the port your interface is connected to can cause cubase to forget i/os.
Cubase remembers my saved Projects that have EXT EFX on them correctly, so this function seem OK. So are you saying that the Preset tab that exists in the Audio Connection panel doesn’t offer the option for a preset of the EXT EFX? Did it ever? Also, I don’t run multiple interfaces, only one, so this may be why things are different for you?
Man, I bought Cubase 11, I am scared to install it after reading the posts here 
Don’t be. If you bought Cubase Pro 11 it is still good software. You can use older releases like 10.5.20 is good and for me so is 11.0.10. We all complain for things that don’t work but all and we are just trying to help each other.
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Hi, I’ve installed the Cubase 11.0.40 update, but the new feature for adding picture to multiple tracks seems don’t work on my computer: when I double click on one of the selected tracks with the SHIFT key holding, all tracks in the selection will be unselected firstly, and after which, only the track which is double-clicked will be selected again, and after selecting one picture in the picture selecting dialog, only the picture of the track that is double-clicked will be changed.
Don’t be silly , C11 is super stable on PC , people just love to complain and moan ,it is the whinging forum so pay no attention , install and enjoy
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Stable with its bugs…
Anyway 11.0.30 is ok
regards
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Cheers buddy.
same for me. 
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Went back to 11.0.30 as well.
For me the graphical melodyne ara issue is a big NO to work with 11.0.40
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I don’t think anyone wants to complain or moan, but people are more likely to post here if they are having issues. For everyone having problems, there will be a bunch of people who aren’t. That doesn’t mean the issues don’t exist though.
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Try it from the mixer instead. It does not work in the edit event area.
At least that’s how it’s works in Cubase 11 for me…
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Thanks! It works on the mixer.
So this is back after update.
I had the same problem. The Microsoft fix did nothing for me. I fixed it by copying the registry entries from a PC where the installation had worked.
Details here: Installation error
same here for nuendo 11.0.40- roll back to 11.0.30
So 10.5.20 produced this error for you, and 11.0.40, but all versions inbetween were ok?
Check to see if your firewall is blocking Steinberg or Cubase.