Oh ok I see. Your user library folder should be hidden, so it's not surprising it's grayed out, there's nothing to fix. You should be able to access it from your Go menu (if it doesn't appear, hold down the Option key).
Sorry but i do not know what is go menu, is it in lpx or generally in mac? Either way i've held the option button and nothing happened. Here are some photos of what i see.
Really important thing is that, before installing new big sur, with my old files and older catalina in fact i could find these saved loops, and simply find 'user loops' in finder right a way, but now this greyish thing stops the search, are you sure it must not be fixed, because it doesn't make any sense.