==> ERROR: Failed to load preset: `/etc/mkinitcpio.d/linux.preset' (manjaro)

I have experienced that because of the different name of Linux.preset it should be linux47.preset

note: don't rename it as you will mess up with your initramfs

ls /etc/mkinitcpio.d/

check what is the kernel preset you are using

i assume it is linux-4.7.3

so repeat the command with absolute path

sudo mkinitcpio -p /etc/mkinitcpio.d/linux47.preset

then update-grub

hope you well