Cubase 11.0.41 / Win10Pro
If the Track Delay is negative, then CC may not be reflecting the delay value correctly.
Check out this video.
If Track Delay is 0, of course there is no problem.
But when the Track Delay is set to -400, the behavior of CC#1 is weird.
The output destination is on Vienna Ensemble Pro, and the phenomenon does not change whether the VEP buffer setting is set to 0 or maximum.
Also, changing the buffer in the audio interface or ASIO-Guard settings does not change the behavior.