How to setup various arcade system configurations

Im trying to create configurations for different systems like CPS1, CPS2, CPS3, etc so that each system uses its own specific overlays(bezels). According to Orions Angel’s tutorial on Youtube these are the steps.

Locate libretro.dll file

Make copy of the .dll file and name it to something that would indicate it being the CPS1 .dll For example, I named mine to CPS1_libretro.dll

Next do the same thing to the config file in windows in the config folder.

Once you have create these new files within Retroarch config and core folders you head over to Launchbox and navigate to Tools\Manage Emulators

Click on Retroarch where you will edit associated platforms. Here I added Capcom Play System CPS1 and added the Default Command Line Parameters for the .dll and .cfg files that I created and checked the box for default emulator.

Now when I load up a CPS1 game it loads the regular libretro core and not the one that I just created along with the old config file too.

Anyone know what I am missing in all of this?