Mac Sierra, Cubase 9.10. It’s just like the title says. I just noticed this. I don’t think it has been happening constantly. It only happens if I change the loop in play mode.
[Edit] I have now had the record button come on several times without changing the loop or anything else. It just comes on.
It started happening again and punch in was activated. I turned it off and the record light did not come on. There was a difference this time. Before, record would come on when I moved the loop boundary. This time, it came on when play started before the loop and played into the loop. I have never punched in and never will, so I am not familiar with the options. Maybe one would cause record to come on when the loop was changed. However, it has happened twice and it stopped the first time after I restarted Cubase. Perhaps the punch in state is not persistent. Otherwise, it should not have stopped when I killed the program.