>The installation needs improving.
Agreed.
While you can't pick what you are installing (32 bit, 64 bit, VST3) having Cakewalk only use the VST3s is a no brainer.
Just don't include have the Waves shell folder, C:\Program Files (x86)\Waves, in your scan path.
Since a copy of the Waves Shell VST3 dll is also installed in the default VST3 dll folder i.e. "C:\Program Files\Common Files\VST3" or its Program Files (x86) counterpart the Waves VST3s will get picked up with your other VST3s when scanned.