When an older Vault 2016, for example, has an AutoCAD drawing that was last saved in AutoCAD 2018 or higher, that had been added to Vault from File > Add Files:
And then the .dwg is right-clicked to 'Open' in the Vault 2016 client, it will not recognize the dwg.
The Vault 2016 client does not recognize the 2018 drawing because the dwg file schema was updated in 2018. Earlier versions of AutoCAD before 2018 cannot open the later dwg schema. That means the internal database of drawing objects in the 2018 drawing differs from a version saved before 2018.
This issue may return if a future version of AutoCAD updates the dwg schema again so that earlier versions cannot read it. Currently, the AutoCAD drawing file format table lists when the dwg format was updated.
To resolve this issue, saveas to AutoCAD 2013 dwg format or upgrade Vault to 2018 or later.
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