Why is this the case? There are plugins that will never be upgraded to vst3 becasue they no longer update them and people might want to use them for one reason or another. What is the reason of dropping the support for those plugins? Also, I have tried to run enginiers filter but Cubase says it has unsupported architecture and I am on Windows. Why is it not supported while other vst2 are supported?
You are in the wrong forum. You should contact the plugin vendor why they dropped VST support. VST3 is already out since several years ago.
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It’s probably a 32-bit plugin while Windows and Cubase 12 are based on 64-bit architecture. It would be a lot of work to maintain an additional software layer for old, unsupported 32-bit plugins that may also introduce stability issues.
Maybe a plugin wrapper like Metaplugin or Superplugin by DDMF could help you to load 32-bit VST2 effects.
There might be various reasons there are called “legacy plugins” That doesn’t mean that a DAW has to drop the support. Unless you can justify why you are destroying a feature that already works becasue new plugins? Most of the plugins in vst3 do not do anything better than vst2 some old plugins do a beter job than the new “magic” plugins.
Soundwise it’s not a matter of better or worse, is just another protocol.
The same plugin will perform similarly soundwise, but the advantages of the vst3 protocol are many.
I am adding a list if you’re interested:
VST2 vs VST3
No CPU wastes
Perhaps, the biggest improvement of the VST3 plug-in is that it doesn’t waste CPU resources and only works when it detects the presence of an audio signal, unlike VST2, which remains active at all times. For users, this means an opportunity to use a bigger number of plug-ins without overloading the system.
Increased flexibility
The second big improvement is that the VST3 plug-in format is designed to be adaptive, meaning it can be used with multiple inputs/outputs. Whereas with VST2, you’d have to install at least a few separate versions of plug-ins to maintain both surround and sound processing, VST3 can be automatically adapted to channel routing, thus minimizing the wastage of resources.
Wide Variety of Control
A dedicated event handler bus is another highlight of the VST3 plugins. Not only does it give users control over the traditional MIDI messages, but it also allows for the use of modulation messages and future-proves the plug-in by making it adaptable to new control methods that may soon be introduced to the industry. In addition to that, users can take advantage of an advanced control at a note level and apply a specific effect not to the entire chord but to a specific note through associating it with a unique identifier.
Multiple inputs and outputs support
Those who use VST2 know that it’s only possible to assign a particular plugin to a single MIDI input/output. With VST3, though, this limitation has been removed, giving users the possibility to use several MIDI ports, making it ideal for live music performances.
User-friendly search
While in most cases users don’t pay much attention to the search option, it’s the feature that can make using the plug-in a lot more convenient. In the battle between VST2 vs VST3, VST3 wins again. Unlike the VST2 plugin throwing at users hundreds of automation parameters to scroll through, it comes with a user-friendly search filter that allows you to categorize all parameters by categories and helps keep the whole process streamlined and organized.
Sidechaining
The ability to take both MIDI input and MIDI data is another standout feature of the VST3 plug-ins that expands the possibilities for music creators.
Also this plugin hasn’t been updated since 2011.
But anyway, there is Bluecat Patchwork which can host VST2 plugins and you can still load it in Cubase.
That’s the problem $100 for this plugin. The DAW Developers should consider that a lot of people had purchased their plugins and do not update simply because the plugins work and do the job!
I know the current market is all about constantly buying new plugins. Everybody wants to sell you plugins where in fact you can do everything with old plugins and sometimes with even better results!
I hear people even decide to keep their oldschool recording setups becasue of all the nonsense that is happening with DAWs and subscriptions…
Most developers offer vst2 and vst3 for their plugins, so if you’ve bought a plugin you are good to get the vst3 version of it.
That said, the plugin you use (that is unsupported) it’s a free plugin created in 2010 and never updated since 2011 so I don’t think there going to be a vst3 version any time soon…
Also, yeah I am sure one can have great results with old plugins or so but I don’t see it as a war of VSTs, I am just focusing on what new stuff has more to offer, and decide if I will ride the wave or not 
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I just realized we are talking about an EQ. 
Man, there are so many EQs out there. You probably have old project files with this EQ. Sorry, you probably shouldn’t have used this free EQ.