This is part of what i got from cakewalk tech support team.
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Hello Sohn,
Thanks for getting in touch with Cakewalk support.
Typically the easiest way of reducing latency is by doing the following:
Go to Edit > Preferences > Audio - Driver Settings (Options > Audio > General in legacy products)
Locate the "Buffer Size" slider and adjust it towards the left to Fast
If the Buffer Size slider is grayed out an you cannot adjust it, it is because you are using ASIO drivers. If this is the case you will need to adjust your buffer size/latency setting by going to your sound card's proprietary control panel. This can typically be done from this same menu by clicking the ASIO Panel button or by opening your device's control panel from Windows.
Ultimately, the smaller buffer size the less amount of latency you will here. If you can get your buffer size down to 10 msec or less, you probably won't notice a delay. If you start to experience distortion or audio dropouts, you may have to increase your buffer size setting for stability.
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Disappointing...