"Generic Lower Latency ASIO Driver 64bit Will Be Installed"

I noticed this as part of the installation package. Does that mean we will get better performance from Cubase 9 than we did from Cubase earlier versions?

From what I understand it allows you to plug in a USB interface on the fly without restarting Cubase in Windows

No. It’s just aditional asio driver for soundcards without asio drivers (like integrated) or when drivers of audio interface are not that good. If you have decent audio interface then you don’t need to care about it

It’s apparently something like ASIO4ALL intended to emulate ASIO (with somewhat acceptable latency) for audio devices that don’t support ASIO natively.

Its not new. It has been there since at least C5. It just installed without saying anything before.