routing waves plug in a midi track?

I have a hardware midi track.
I want to put waves Delay on it.

Is that called a send or insert or do I route to an FX track?

And if so how do I do it?

Define: hardware midi track?

Its my analog synth installed as a virtual instrument in external instruments tab in midi device manager and also external instruments tab.

I haven’t tried that kinda setup, but unless the audio output of your external synth is going to the audio input of your audio interface–i.e. you hear the sound of your synth coming out of your audio interface–it will not be possible. If what you record is only MIDI note events, it is logically impossible to use audio-specific plugins on that track.
A work around which I guess you already know is to use your synth’s onboard FX. Andromeda is a giant synth. Another is to record its sound into an audio track, then you can use any plugin you wish on that new audio track.

The snag using External Instruments, is that you have to be careful that your audio device is not monitoring the signal path. Make sure there is no direct audio monitoring from your sound card - typically switched in the sound cards own control panel.

make sure that External Instrument is set up in VST Connections - so that the right input is from the synth. Ensure you label it with the synth name - you’ll get lost without that tag.

Once this is done, you can create a new Instrument Track - as you’ll see the External Instrument available as a choice

This will create a MIDI track and an audio input track in the Mixer, labelled as whatever you called your External instrument, then you can process this audio input like any other audio signal path.

Although this does sound straight forward, if you don’t do it in that exact order - things wont go right.

The first two stages should be saved as default, so the first two stages only need to be set once.