Cubase 12 Pro / Windows 10, Meters are Moving yet No Audio is Recorded

What am I doing wrong? I have followed several tutorials to the letter, but I can’t get the audio signal to record, be it with an instrument or via a microphone. Recording appears to create no audio file, and there is nothing available for playback. I have also had no success with the currently available forum posts. Please help … Very frustrating!

First which meter is moving? I take it is an input meter?
Maybe a screen shot would help.
On the track you want to record on have you selected the correct input?
Have you record enabled the track?