This has happened to me and really sucks. Hypersonic is no longer supported by cubase and therefor it means that old projects are compromised. i am trying to make sense of what someone wrote in a post here. >> License for Hypersonic V1.0 included? - #6 by system - Virtual instruments - Steinberg Forums
not sure if it means that halion sonic has the hypersonic sound sets etc…
another option is to use jbridge (mac version here > jBridgeM ( for Mac OS X ) | J's stuff ) so that you can use 32bit plugins in 64bit daws.
What i usually do in your situation is select the plug in from the inspector, click on the plugin/instrument iself which leads to a folder browser window asking you to locate the content folder, then I select the folder for the path which you can search for in your finder or explorer called “Hypersonic Content” as in your image (ignore the content location link in this folder as it does not work anymore, you put a ring around it in your image) … once done… I have to toggle to any sound, and then back to the desired sound to make it stick. Now the content folder will stay locked for the duration of your DAW remaining open… I still find buggy things going on … and it makes my daw crash sometimes 
… so now im just on the lookout for similar patches on other current virtual instruments.
Please post any other solution you may find to this issue 