How often do V1 cuts come up in airline sim training?
During initial and upgrade training you will fly many V1 cuts. At every recurrent check ride you'll experience V1 cuts both as pilot flying and non flying pilot.

In our sim events the V1 cut would generally be a 600 RVR takeoff with 10 kt direct crosswind from the side that would fail. Not always though -- you expected the V1 cut on every takeoff.