There can be two types of plug-ins that can cause this:-
CPU intensive plugs like convolution reverbs (Perfect Space)
Look Ahead effects, such as the PC Concrete Limiter.
Apart from disabling them, there's not a lot you can do. Only use effects like this when you've finished tracking. If you have to use them, disable them if you need to record something. Keyboard shortcut "E" turns off all effects. I simply disable the specific effects that I know cause latency. Do not disable PDC.
If it's a convolution reverb, use something like Pantheon or Breverb when tracking, and replace it when you've finished.