Hi and welcome to the forum,
Use the Yamaha Steinberg ASIO Driver, please. This gives you the lowest latency, highest stability and some extra features bundled with the Steinberg Audio Devices only.
Plug the guitar to the Hi-Z input. In the Audio Connections > Input, add Mono bus and select the relevant Input as the Audio Port.
Add Mono Audio track. Enable Monitor to monitor your guitar thru the track (and its plug-ins). Make sure the Record is enabled on the track. Hit Transport Record and enjoy recording. Disable Monitor on the track to hear, what had been recorded (not what comes from the input). Payback your song.