After upgrading to the beta launcher last night, my library portion of the unreal engine does not show any purchased/owned content. I checked the vault archive folder and everything that was currently downloaded is still there and pointing to the correct folder, but nothing is showing under the Vault section in the Library tab. Going to the marketplace, searching for any of that previously purchased content, it shows as owned during a content search, but then it says unavailable when clicking into the specific content detail area. I have checked both paid for, and free items.
Update
So after playing with the new launcher, I checked out the store, clicked on the free unreal tournament link, then went to my Library and it was showing in there. Then went to my unreal engine tab and library there, and all the owned content was now showing. Not sure if this was a bug but now you know the process I took to get it to show in case others have the issue too.