I believe I have correctly installed the MicroZed 7020 V1.2 board files into Vivado 2020.2 as shown in this screenshot
Installation path is C:\Xilinx\Vivado\2020.12\data\boards\board_files\microzed_7020.
I know this worked because I was able to select the MicroZed board when creating a new project. However, when I placed a Zynq PS on the block diagram editor, it did not contain any of the usual presets, such as UART, Ethernet, clock configuration, etc.
In the Zynq processing system configuration GUI, I checked the presents, and none for MicroZed was listed. I tried Presets-->Apply Configuration, but it's looking for a TCL file and the MicroZed bdf only providedan XML. I then tried the "Import XPS Settings". I was able to point to the preset.xml that was installed as part of the MicroZed bdf. Vivado seemed OK with this selection, but nothing happened. No preset configuration appears in the Zynq PS, Also, peripheral such as the AXI_UARTlite don't show the option of using the preset pins for this perhipheral.
How does one get the Zynq PS Preset configuration to work? By the way, I went back and repeated this whole process in multiple older versions of Vivado, and the results were identical. Here is verification that MicroZed is selected as the target board and the lake of preset info in the Zynq PS: