Here's the solution in Live 11. Locate your VST3 System Folder, if you don't know where it is. Open Live and its Preferences Tab. Go for a full plug-in scan, toggle "Use VST3 Plug-In Custom Folder" button and set as custom directory the VST3 System folder. Once scan is complete you're going to see Presonus Fat Channel in your VST3 list in Ableton Live. Now you can toggle "Use VST3 Plug-In System Folder" button.