There was little to find about this Illustrator. He probably lived in Köln. I once stumbled upon an album from an anonymous Hungarian artist who has a similar style as Paul Prött. I am not sure if they are the same illustrator but I have included the album below the other two.
Someone mentioned this about the artist:
He was a successful commercial designer in the '20s and '30s in Berlin, obsessed by self-discipline (strong leather corsets, steel bandages, chastity, and
dilation tools). The pics were not a fantasy for him, he lived them and he did his jobs best attired in his tools and fixated at his drawing board. The permanent
thrill without solution gave him his very creative ideas. He died in Muehlheim (Germany) in 1961.