Audio passes through plugins without effect or metering (as if bypassed)

Mac 10.13.2
Cubase 9.0.40. build 292

When loading up various plugins, either oeksound, waves, or steven slate. Audio has started passing through these plugins as if they are in bypass. there is no metering and the perimeters have no effect on the audio at all. e.g. i can smash at output gain up 20db and it does nothing.
I’ve started a new blank project, no templates, imported an audio track and tried to load a waves ssl channel strip, and same deal.
plugin are on, and not bypassed. but not being effected or passing through.

Cubase stocks pluggins and JST plugs work fine??
any ideas?
Many Thanks

Still not Resolved this… Any ideas anyone?

Still not Resolved this… Any ideas anyone?