With one proviso...like quite a few menus in SONAR (eg. the track input drop-down), the list starts to become very long, so I'd suggest a bit of consolidation at the same time - I hope my text description below is clear:
Insert Audio FX ->
.......................Plug-in Layouts ->
.......................Recent ->
.......................VST 2 ->
.......................VST 3 ->
Insert Soft-Synth ->
Insert FX Chain ->
.......................Empty
.......................Preset
Insert External Insert
FX Rack ->
.......................Bypass Rack
.......................Bypass Racks of This Type
.......................Convert to FX Chain