There is a "Gear" forum here, with "Hardware" and "Computer" sub-forums, where you might find more info, as this forum's focus is on Cakewalk's own brand of audio/MIDI interfaces.
Seems like the problem might be with Adobe's updates doing something nasty to your system rather than a problem with your E-MU soundcard.
Is your E-MU 404 soundcard the older PCI version or newer PCIe version?
If it's the PCIe version, I wouldn't say it's outdated, although it does appear that E-MU/Creative have halted further driver development beyond last year's unsupported beta driver release. More like "abandoned" rather than "outdated". Still a decent card (but only if it still works). For that matter, the older PCI version was also a decent card with lower latency than many current USB interfaces.