We have discovered a bug with our .1 update where plugins will no longer load or function correctly after installing the .1 update.
You'll want to download the zip file and extract it and move the .EXE into the following location where the ON1 PHOTO RAW 2022.EXE file is located:
You can download the Emulator from here.
C:/Program Files/ON1/ON1 PHOTO RAW 2022: (Place extracted .EXE file in this folder location)
This should correct the issue.
We've logged a bug for this issue and working to address this.