Solution
The LabVIEW Control Design and Simulation Module was deprecated in 2023, meaning that the latest version available for download is 2022 Q3.
With LabVIEW Professional 2023 Q1 or newer, the Control and Simulation palette only includes the PID and Fuzzy Logic subpalettes. The additional Simulation, Control Design and System Identification palettes will not be installed due to the deprecation of the Control Design and Simulation Module.
To use any of the Simulation, Control Design or System Identification VIs, it is necessary to install LabVIEW 2022 Q3 or prior with a matching version of the Control Design and Simulation Module.