How to have live effects on UR12

Hey, so I’m using the UR12 audio interface and have Cubase 9.5 currently installed (could install 10 if I needed) and I was wondering if there is an option to have live effects on the microphone. As an example, if I’m in a call with someone I could do a reverb preset and my mic would record with the reverb on. Pod farm 2.5 has something like this so hopefully, Cubase does. I’m also using an at2020 if that helps at all.