This includes the Earthly Gods of various cultures including Pagan, Sumerian, Egyptian, Greek, Roman, etc. There can also higher Gods as well including Star Gods, Galactic Gods, etc.
Yes they do exist but first we will define what we mean by God of the Universe. What we really mean is the one eternal infinite God who first existed. The first sentient being, and thing to exist in all of reality before all else. We would technically call him the God of the Macroverse which encompasses his entire non-corporeal mind. Within his mind are Gods of Omniverses which are generally 10 or 11 dimensional Universes made up of Multiverses which are in turn made up of an amazing quantity of parallel Universes. A Universe is basically defined as the four dimensional space-time we observe around us.
These Omniverse Gods can be Archangels, Angels, and other beings of the Macroverse God. We believe that most of the time these Archangels, and Angels are in fact former dead sentient biological beings who later ascend to Godhood, and create their own Omniverses, and sentient beings. The multiverses may be ruled by Archangels, and the parallel Universes are watched over by Angels. There may also be Galactic Gods, Star Gods, and Planetary Gods. These Gods may also be Archangels, Angels, Jinn, Demons, other higher dimensional or inter-dimensional beings, advanced aliens becoming God like through technology, advanced alien cultures who ascended to the higher dimensions becoming God like, humans who gained great power from magic, or even manifestations of the collective human consciousness.
Since humans had a need to create the Earthly Gods to explain natural phenomenon it seems most of the Gods were in fact creations of humanity. Pure thought is the source of all magic so if enough humans believe in something it can come true. This is evidence that humanity is destined to ascend to Godhood, most likely Omniversal, after death. This was more true in ancient times, and the result of this collective magic was the actual creation of real Gods. Naturally once most people stopped worshiping them, and believing in them their power faded. However they simply didn’t blink back out of existence. Once you create a sentient consciousness it doesn’t disappear unless deliberately eradicated from existence. Many of these Gods still exist today with a fair amount of power thanks to the practitioners of magic who still worship them, and call upon the Gods for power. It’s a symbiotic relationship that actually isn’t necessary since both parties have the ability to create their own power through their own pure thought consciousness. Sorcerers certainly know that all their power comes from within them, and theri ability to marshal the vast energy of reality around them. However the powers that be above the Earthly Gods might in fact hold down their power.
These lower Gods are allowed to exist by the Omniverse and Macroverse God because it’s a scenario that needs to be played out. That’s what Gods do. They create everything they can, and then allow as many scenarios to play out between sentient beings, and the environments they exist in. The Macroverse God meant for the purpose of life to be Godhood for all who deserve it. By living out a plethora of lives in the parallel Universes humans, and aliens ascend to Angelhood when they die due to the amazing storehouse of knowledge they have amassed in all their lives. They then lead parallel Angel lives in each Multiverse Heaven before ascending to Archangelhood which is basically pre-Godhood. From there they can become Gods, and form their own Omniverse which is in essence their non-corporeal multi-dimensional mind-body complex where all their creations, and thoughts exist able to expand to infinity, and beyond for all eternity.