so i went to do my usual bounce audio from cubase to wavelab using my new version 10 and wavelab opens and my soundcard disappears. I check everything, preferences for releasing drivers, reinstalled all latest drivers and versions of everything, still same problem, I go back to ver 9.5 and everything works fine, hmm, so I contact steinberg support and I’m told it’s a known issue, sorry, hopefully will be addressed in a few weeks, oh well back to 9.5 for now for me, but I wanted to post this here so I have a time and date stamp of this issue.
I had this disappearing soundcard issue here. My solution sounds really wacky though. I turned off my computer (not a restart). Got up the next morning, started the computer and all was well. Cubase/WL Elements 10 worked as expected. 
i’m glad for you Maincat, sometimes the tech gods smile, in my case i wasnt so lucky. I had an issue a while back and by selecting and de selecting the thing in preferences that says “release driver when cubase/nuendo is in foreground” it seemed to get things going, but alas, this time it wasnt a easy quick fix…
resolved
Ok, so upon exploring in cubase on a fluke, I’m looking in the soundcard preferences and low and behold cubase also has a tick option that says release driver when cubase is in background, I click it, open wavelab 10 and (you guessed it) everything works fine.
So where does that leave someone when they call for support and are told something is a known issue. It confirms for me once again that as great as all this software is, in so many ways you are on your own when it comes to figuring it out, especially when things go wrong or don’t work right
I’m still not sure why wavelab 9.5 was not affected by the cubase release driver thing, but theres the update, back to work…