One thing I haven’t noticed in this thread thus far (but maybe I just missed it): Are you actually having real performance problems, with audio cutting out or breaking up, when the ASIO Guard meter is running a high percentage while the average Windows CPU meter is showing a much lower percentage? A few things to mention, depending on the answer:
First, if you’re not actually having problems – i.e. it’s just a meter reading discrepancy – why do you care since your computer is keeping up with what you’re asking to do? I’ve sometimes had very high ASIO meter readings, especially during a mixdown, while my (i9 285K) computer is keeping up just fine. I only worry about the meter readings in the case where there is an actual problem.
Second, even if you are actually having problems, I suggest not looking at the overall reading for Windows. Look at the CPU tab in the Performance tab of Task Manager instead. That will show you how well (or not well) spread out process are against your CPU cores. You may find that the load is spread decently well, but one core is maxing out.
Third, if this is the case (i.e. one core maxing out), while it may seem counterintuitive that it would help, try giving a shot at “the HALion trick”. Specifically, add an instrument track with an instance of HALION Sonic (you don’t need to actually pick a patch within it), and put the focus on that track to put it in record mode (assuming your preferences do this automatically – if not, you may need to manually put it in record mode). What this does is force Cubase to create a real-time thread, and, in many cases where your system isn’t really overloaded, but things are bottlenecking on one core, and adding the real-time thread somehow gets Windows (and/or Cubase) to readjust the process allocation, which “magically” (i.e. in terms of my having no clue why this actually works) resolves the audio breakup/dropout issue. I had to do that quite a lot on my old Windows 10 system (i7 5820K), not so much on my current Windows 11 system, though occasionally I still do when working on mixing with a lot of heavy-duty plugins and complex bus structure.
This is not to excuse any inefficiency in Cubase’s or Windows’ thread allocation that may (or may not) show up in other DAWs running on the same version of Windows with the exact same drivers and all the rest of the “unruly” mix of things that has to go on in a Windows system as part of Cubase and/or Windows. Hopefully things will improve in the future, but there are some general limitations in terms of what can and cannot be effectively parallelized in any given audio processing chain. ASIO guard just helps (at least potentially) take parts that don’t have to happen exactly in real time and avoid encumbering the real-time audio processing thread that does need to respond in real-time (e.g. for monitoring a virtual instrument while playing it). Ultimately, though fully-calculated samples do have to be fed to the ASIO audio drivers fast enough to not drop samples on playback, even if some less critical parts are calculated and “buffered” (whether literally or just conceptually) ahead of time.