Arturia got a new preset system including a preset browser between V-Collection 4 and 5. The old preset formats does'nt work in the new much improved preset system.
You can use the preset updater the way i have suggested, and that you can read about in the FAQ link i posted.
It's very simple. You just need to have both the old and the new presets installed. Not an exported bank but the actual presets located on that path i have posted for you.
If you have external exported banks, then they need to be imported in the old applications before you use the preset updater.
And as said, then it's only preset saved by you (not exported), that you can update with the preset updater.
After you have udated the presets, then you can uninstall the old applications again, if you wish. I have kept my old applications installed alongside the new.