No. The VST is not in that folder. You have a application for the standalone version. The applikation in the folder you mention is 32 Bit.
But you also have VST's in both 32 and 64 bit versions. If you use 64 bit OS and 63 bit ableton, then you should use the 64 bit VST.
If you start the instalation of Analog Lab, then read the path where the VST versions is installed. I have selected another path for mine that the default. Always read things before you continue a install. And cancel if you don't wan't to install.
EDIT: You can also use windows search to find the vstplugin folder. As i remember analog lab is installed in a folder with that name, as Steinberg uses that folder name, and the vst format is a steinberg format.