On windows 7 64x, Upgrading from 8 to 8.5 The Cubase presets folder content is not installed.
Location: Users\User_Name\AppData\Roaming\Steinberg\Cubase8.5_64\Presets
To get around this, I had to copy them from:
Users\User_Name\AppData\Roaming\Steinberg\Cubase8_64\Presets
When Prompted by windows to overwrite any duplicate folders or files, I selected no.
I noticed this issue when looking for the logical presets in the drop down menu from the main toolbar, but were ghosted out.