Interface settings and project settings match?

Hi guys, I’m kind of new to DAWs and interface set ups. I am learning more and more as I go. One thing I’m working on is setting my project up at 24 bits and 48khz. I am using an Mbox 2 as my interface.
Question: Does my project settings in Cubase at 24/48 automatically set my interface to 24/48? When I go into my sound settings on my computer, and select my Mbox 2, it says it is set at 16 bits and 44.1khz. I only have the option to change it to 24/44.1, not 24/48 - even though the Mbox 2 is capale of 24/48. When I select 24/44.1 in my Mbox settings, it automatically changes my project settings to that as well. But when I left my Mbox settings alone at 16/44.1, my Cubase project allowed me to select 24/48. So, which is correct then, if my project is set at 24/48, are all my recordings following those settings, because the project setting is superseding my Mbox setting? Or, is the Mbox setting of 16/44.1 superseding my project setting of 24/48? And why can’t I just simply change my Mbox setting to 24/48 if it is capable of that anyways?

Thanks for the help, sorry if this is covered already I’ve been searching all over the web for specific answers and everything I find kind of dances around what I am actually looking for.