I use the MH Magazine theme and it selects posts based on a WP_query using the tag “featuredpost”. Both regular posts and TCE Pro Events used to be selected by this query but now only regular posts are selected and TCE Pro Events are not. I know you are not responsible for their code but please advise where to look.
On line #21 of your snippets, you can add a “post_type” argument there that would take an array of both “posts” and “tribe_events”. You can see an example of that here https://codex.wordpress.org/Class_Reference/WP_Query#Type_Parameters