I guess galvinstephen was talking about prefs>editing>audio>On Processing Shared Clips, but didn’t have time to finish his post.
You have it set so that if you dup tracks you get a audio event pointing to the file.
You can bounce the event too, and Cubase creates a new file to work on.
Didn’t you get the “This project contains events that use the audio material…” dialog? You would have seen it least once, in that you should click “New Version”.
The default is Open Options Dialog, but once you click “Don’t ask me again” it changes the option in that prefs dialog. Then you have to go into prefs to change it.