If you connect up the CZ-1000 using a MIDI interface you’ll be able to play any VSTi as well as record the MIDI from the CZ-1000 to a Cubase track. In this way it works as a “master keyboard”. It does not have buttons to control playback etc. (“transport controls”), so in that sense it is limited as a controller.
To record the audio from the CZ-1000 you need to connect the audio output of the CZ-1000 to the audio input of an audio interface (“soundcard”).