By default 64bit SONAR, CbB and plug-ins install under "c:\Program Files". Each DAW has its own product folder under "Cakewalk" but do use the same set of "Shared" folders containing the DX plug-ins and utilities.
32bit SONAR and plug-ins install under "C:\Program Files (x86).
64bit and 32bit versions of the same Cakewalk DAW share "Cakewalk Content" and configurations in the User directory, however; different products such as 8.5 and CbB have separate "Cakewalk Content" and user config file folders.
1+2) DX plug-ins are host bitness specific. 32bit DX plug-ins only run in 32bit hosts. 64bit DX plug-ins run in 64bit hosts. Most 32bit VSTs may be used with 6bit DAWs by first loading into bridge software. CbB includes BitBridge which works with most 32bit VST plug-ins, however; some work better with jBridge, a low cost 3rd party alternative. That said, as a rule it is better to use 64bit plug-ins whenever possible. A few 32bit plug-ins do not work in 64bit hosts at all, for example Toontrack do not bridge - fortunately they make 64bit versions. Consider installing the 64bit (and in many cases the 64bit VST3 format too) of your existing plug-ins.
3) Installing CbB is completely separate from 32bit SONAR.
For the best performance and stability, install the 64bit version of SONAR 8.5 to get the bundled 64bit plug-ins. Having access to the 64bit version of the 8.5 DAW may help with the transition too. Keep in mind most of the DX format FX 1, FX2 and all of DSP-FX were not ported to 64bit and not run in 64bit DAWs. All of the bundled VST plug-ins will work in CbB, most were ported to 64bit and the others run bridged.
Here are the plug-ins included with CbB.
In order to upgrade to CbB create a
BandLab user account with the same email address as your Cakewalk account the follow the install instructions
here using BandLab Assistant.