The dbclient.exe executable ceased to exist in Version 6, replaced with a "compatibility utility" dbcli6.exe which, in turn, ceased to exist in Version 7, not replaced.
Soooo, that answers your first question, "where is it?" Other folks have answered your next question, "what do I do now?".
Sadly, with Version 10, someone made the incorrect (IMO) decision to remove the following section from the Help. If you think any of this material might help you, I can post it; note that it was written for the leap from 5.5 to 9, and there are other sections in the V11 Help that talk about upgrading (everything changed in V10).
===== From the V9 Help...
What's New in SQL Anywhere Studio
Upgrading Version 5 Applications
About this chapter
The client/server communication protocol changed between SQL Anywhere version 5 and Adaptive Server Anywhere Version 9. This chapter provides upgrade instructions for those users upgrading from Version 5 to a newer release of the software.
This chapter describes upgrade procedures that apply to the change in communication protocol for users of SQL Anywhere Versions 5.0 and 5.5, and users of Watcom SQL 4.0. In particular, it addresses the problem of stepwise upgrades of client/server installations.
- Understanding version 5 upgrades
- Review of SQL Anywhere Version 5 architecture
- Upgrading embedded SQL applications
- Upgrading ODBC applications
- Using the compatibility library
- Capturing dbclient command information
- Upgrading databases
- Upgrading version 5 SQL Remote installations