Purpose of Adjust for Record Latency in Device Setup

What is the purpose of Adjust for Record Latency in Device Setup → VST Audio System ?

Mine is ticked but set to 0 samples

it’s an optional adjustment for record latency correction only needed if your interface/computer are getting it wrong somewhere.

Fortunately it’s rare to need it nowadays.

If you want to check if you do need it, you need to run an audio loopback test.

Does this apply to recording audio? What about VST instruments?

Cheers

It only applies to recording audio.