When you upgrade Lightroom Classic to version 7.3, your presets get converted to a new format, and these new copies are moved to a new location.

Your original presets (with the .lrtemplate extension) are left in place for compatibility with previous version of Lightroom. They get prepended with a ~ so Lightroom knows not to convert them again. The ~ does not show up in Lightroom.

The new presets are converted to the .xmp format that’s compatible with Camera Raw in Photoshop, and Lightroom and Photoshop share a common location for these presets, meaning that your preset collection will be the same in both apps.

On Mac, this folder is:

~/Library/Application Support/Adobe/CameraRaw/Settings

On Windows:

C:\ProgramData\Adobe\CameraRaw\Settings

Your Prolost Presets will be available in Photoshop, and any presets you create will be available in both Photoshop and Lightroom Classic.

This conversion process happens automatically, and only once, so there should be no need to re-install Prolost Presets after upgrading to Lightroom Classic 7.3 or greater.

Installing Prolost Presets for Lightroom Classic 7.3 or Later