There should be two other factors to have midi echo:
1 Click the [*)))] echo button in the track header so it's blue.
2 Enable the
Always Echo Current MIDI Track option in
Edit > Preferences > MIDI - Playback and Recording and make your midi track the "current track", making sure the echo button automatically turns blue when you make the track current.
It's good also to check your controller's midi channel assignment to see that it matches up with the track and synth settings, but since you can record, that's probably fine.
Also, with transport stopped, make sure the audio engine is still running.