There are several ways to launch the video effects window. From the HOME tab, on the toolbar... 
Or click the FX icon in the clip, which may not display unless the timeline is expanded.
Specific classes of effects can also be accessed via the Menu (upper-left)... 
After the timeline has been expanded, drag the cursor. The preview display should echo that movement. If PV is sluggish, install the 64-bit version.
For licensed users upgrades are free for up to six months from purchase date. After that, VP will continue to fully function but a fee will be required in order to register the newest. Retain your old install file and registration info.
Record_2022_10_11_13_06_03_431.mp4