Why can’t I find the Iray render plugin in iClone/Character Creator, even after installing Iray Render Plugin v1.1? (v1.1)

Iray Render Plugin v1.1 is only supported by iClone 7.41 or above and Character Creator 3.03 or above. The Iray render plug-in will not appear as an option for lesser versions, so please update your application to the versions mentioned or to the latest versions available.