Here is detailed information on how to add your Toontrack product as a plug-in in Cakewalk.
This guide was made using Cakewalk version 2023.09.
First enable the synth rack.
Then click the (+) sign in the synth rack, select the plug-in you want to insert and create the instrument track.
The plug-in should open automatically when the track has been created.
To add an effect plug-in, you first need a track, so add some type of track that outputs audio via the Project menu (audio track, instrument track).
One way to then add an effect plug-in to the track would be to open the FX menu and then “Insert Audio FX”.