OK, let me see, if I can still remember patchmix well enough.
The way it is set now is: The ASIO send in the PCI card inputs will send the signal to Cubase (For recording) and at the same time out of the patchmix channel strips directly to your monitors - giving you the dry input signal.
The way it probably should be is:
-The patchmix faders from the PCI L/R channel strips need to be turned all the way down, so they don´t send the direct signal to your speakers anymore
-In Cubase VST connections the main out should be set to the ASIO out 31/32. The patchmix channel fader of ASIO 31 / 32 should stay at 0.0, so it sends the signal (coming from Cubase Master out) to the speaker out.
-In Cubase define the PCI L/R (or whichever channels you use to record) As input busses in VST connections, assign them to the audiotracks you want to record to, make sure, the Cubase audio tracks´ outputs go to the Cubase main out (which in VST connections should be connected to the ASIo 31 / 32 out bus - see above)
Generally, all the input channel strips from patchmix should not send any signal directly to the main mix in patchmix - that way you monitor via patchmix, not Cubase.
-Only patchmix strips being set up as output busses in Cubase should send to patchmix main mix.
-And just to be sure: Disable “direct monitoring” in cubase.
Of course there are situations where you want things to be different, and patchmix gives you a lot of possibilities to do that. So what I said is not “how it´s got to be”, but about how what you want to should work (If I remember patchmix correctly.)