You're always going to incur latency when the second display is connected via Ethernet, or worse, USB. There's a reason video adapters have a special connection to the other innards of your computer - it requires transferring a LOT of data very quickly, much more than any other peripheral.
HDMI provides a much faster connection, but not all laptops have an HDMI port and some simply redirect their video to the external display or mirror what's on the primary display, so you can't use the two independently.
If your laptop has an HDMI port
and it allows both displays to be used simultaneously and independently, then you won't need any add-on software; Windows will handle it for you. And it'll be fast enough that you may not even notice the latency.