If I’m hearing you correctly and it seems that you experimented with this procedure. Backup that should work, go to File > Backup Project then make a new folder and save the project into it. Cubase will copy all the files used in the project there. The files made with File > Save New Version will not be there, but you will be able to copy those into the new folder manually. When the backed up project is opened, Cubase will ask what path to the project you want to use, then click New Path and all should be working. I’ve been trying this out, backing up to the cloud and using the projects between computers, the only thing I don’t do is try to run the project from the Cloud folder because of file locking that the cloud server does when syncing files, I always put the project in the Cubase Projects folder and run it from there and then repeat the backup progress if I’m going to use the project somewhere else.
Where you able to uncover a problem with the backup procedure? I don’t think it’s profitable for me to just say “Works great here” because sometimes it may not.
It’s night here now too 
