It could well be that there actually IS a track with SysEx data on it in the file and Reaper simply filters it out or puts SysEx data elsewhere. I don’t know Reaper well enough. Cubase doesn’t just create tracks for fun.
You could make a feature request with the following three items:
- Display the string of “Instrument” of the meta/SMF event FF 04 in Cubase in the part names
- Allow import of several SMF (standard midi files) into the same project underneath each other in one go
- Allow a single midi channel SMF to be placed on an MIDI/Instrument existing track in Cubase