Crackles with VSTHost

[CedricM]

Hi,
I'm using VSTHost to host IKM ARC3, a room correction software, so that I can hear the correction under Windows 10, and not only in a DAW.

This worked quite well, until I had to make a full reinstall of Windows and all apps on my computer.
Now, no matter how big the buffer I set under Devices / Wave / Buffer, there's lots of noise.

I took screenshots and explanations of my VSTHost config, so I'm sure I replicated everything as it was.
Any idea what I could have missed?

I was using MME because I was under the impression this was the only solution to get 48 KHz and the config I wanted.

Reading the documentation, it seems ASIO is in fact the best option.
But when I use it, there's no sound, and clearly ARC3 doesn't get any signal.
What could I have done wrong? Should it be possible for it to work ?