[Help] Latency issue

[Tiago Rodrigues]

Hello,

I am currently doing livestream and wanted to use Cakewalk  to have a better sounding... sound!

Although my setup is somehow limited for the part where I don't have a better interface and will be having to wait for a better, I still wanted to make things better.
My computer is a newly-made low budget "gaming" computer that should be able to process at least the 128 bit buffer size for me to hear what the DAW is sending to my stream live.

My PC setup:
- i3-9100F @ 3.6GHz up to 4.2GHz boost,  6M cache 
- 8GB of RAM @ 2133MHz
- Radeon RX 580
- H310M PRO-VHL Motherboard(its one of the cheapest in the market)

Interface:
BEHRINGER X1204 USB mixer - Note that, it only sends 1 track to Cakewalk and all my effects are coming from the mixer. I just want to use the DAW for now to reduce  noise and have a limiter.

The best settings I can get in Cakewalk without pops is like this(I have a lot of opened up tabs in chrome ence the RAM usage, and already tested with the chrome off):
 

Questions:

1. Isn't my setup capable of doing that processing? 
2. Is this latency issue only because my audio mixer is not a proper audio interface?

Thanks in advance,
Tiago Rodrigues

PS: I am very NEW to all of this digital audio stuff.

Edited April 14, 2020 by Tiago Rodrigues