You are correct in where to extract it to (it should look like EverQuest 2/UI/Profit UI/). I believe the problem is the non-updating versions of profit are no longer maintained: can you link which version you downloaded? Check the last updated date on it, if it's not this year then it's very out of date and the game will fail to parse it and discard it.
If you want to use Profit I believe you have to use the updater version.
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