Hi, David. At this point sequences and presets saved with Sapphire v1 effects can not be converted automatically to use the Sapphire 2 version, and Sapphire2 for AVX1 effects can not currently be converted to Sapphire2 for AVX2. Hopefully this will be possible in future versions of Avid products.
However, you can have Sapphire v1 and v2 (for AVX1 and/or AVX2) installed on your Avid at the same time. This allows sequences saved with older versions of plug-ins to still be loaded and rendered. Sapphire v1 appears in the "Sapphire Plug-ins" effects category. Sapphire v2 for AVX1 appears in the "Sapphire2...(avx1)" effects categories, and Sapphire v2 for AVX2 appears in the "Sapphire2" categories. See the table above.