Midi messages are very peculiar, and in some cases, you need multiple messages to perform an action, because you are accessing different registry. This is one of those cases.
Do do a change on the bank; you need to have the most significant byte, the less significant byte and the value of the actual program change. If you change just 2 parameters without the 3rd, nothing happen. It is not a coincidence that the only place where you can assign those 3 values is on a button, and that's where it works. MIDI implementation sadly does not include a program change on a CC message, so each maker does its own thing and have to expose the program change.When you change preset in analog lab using the buttons, this is exactly what it does: it set bank for analog lab and load the first patch of that bank; and the arrows are sending a program change, since at that point you don't need MSB and LSB since you are already on the bank you want.
The problem is that Arturia decided to not actually expose these arrow buttons to the User profiles, nor in the midi editor, nor it allow you to send sysex, like a roland controller would, for example. Why is it a problem? Because you need to send those 3 values together, so even after I pass MSB and LSB via CC 0 and CC32, I have no 3rd value controller because there is no program change assignable control (it require to send a 0-127 value prefixed by hex C0).
Try to browse banks, one parameter at time, and tell me if you can do that. This apply for external hardware of course; if you never use external hardware that require something beside CC messages or CV, then you are covered.
For live performances you create a set, that is true; but you do not have only sets; you have parameters too, so if you consider that you are driving external gear, and you need 2 pages just for the synth controllers and parameters; you are left with one page of controls, and out of these, you can only use the buttons, so only 9 preset. If you can run a live preset with just 9 patches; I am happy for you, but I can't do that even if I was using one single external piece of gear, imagine 3
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Other companies with less shills on youtube are able to deliver simple sysex transmission from their midi controllers via their midi editor; which is why I am surprised that Arturia decided that it was a good idea to have only CC in their editor, and not even plan to add things like program change exposed. I bought the keylab to drive external gear; and to use it in a DAW, and so far, bot things have been borderline impossible in the measure I need them, because of limitations mostly on the hardware and software side of things. I bent backwards to make it work, but I am tired to have to compromise, especially after spending 500 dollars for a midi controller, not even a rompler keyboard or a proper synth.