Cubase 12 Upgrade ASIO-Guard Issue

Not sure it it’s related to those problems encountered by all others.
The first days C12 worked nicely. The Demo project (Awesome Cubase 12 cpu performance - #7 by funkster1) played fine, I could change tracks, record arm them, play with the VSTi’s etc with no spikes, dropouts or other trouble.
CPU performance meter showed around 25% usage.

Then I started a new project, empty template with around 40 tracks & busses, 1 instance of Steven Slate Drums 5.5, two Reverb busses (Roomworks and Convology XT).

Recorded an acoustic guitar track, a shaker track, SSD playing only a 4 on the floor kick drum, a short Bass & Gtr. intro and that’s it.
Now, no matter what, I get constant audio dropouts at random positions. No matter what ASIO-Guard is set to (off, low, normal or high).
Performance meter is jumping around 30-50% CPU usage !

Left the house for maybe two hours, Cubase open, no changes to the project and when I came back I pressed “Play” → “A serious error occurred” (2 in fact).

Project settings:
44.1 KHz, 24-bit
Recording format: .wav
recording path: external SSD over USB-C, 3.1 Gen 1

Dropouts occur no matter the buffer size

System specs:
Win 10 Pro 21H1, 19043.1586
AMD Ryzen 5 3600 @4.00 Ghz, 6 cores (12 with SMT)
ASROCK B550 Pro 4 Mobo, SMT enabled or disabled doesn’t matter
32 GB RAM (dual channel)
250 NVMe SSD for system
1 GB NVMe SSD for samples
2 TB HDD 7200 RPM for personal files and stuff
NVidia G710 (fanless)
Roland UA-1010 Octa-Capture
BCR2000, Novation ZeRO SL mkII
Nektar Impact LX88+

Cubase 12.0.0.205 64bit 2022.3.19 17.33.12.831.dmp (811.4 KB)

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