For future reference, I'll walk you through the solution that worked for me.
My system is a mobile workstation
Dell Precision 5540, 2020 model
32gb RAM
intel core i9-9980HK
1TB ssd nvme (system) + SATA3 2TB SSD samsung EVO860
windows 10 latest build 2004 (fully updated)
Apparently it was a driver and settings issue.
When I first plugged the Audiofuse, windows showed it in the audio settings.
I've tried to record from my Neumann TLM103 mic - the sound was ok but not as I expected it to be from this kind of mic and interface.
When I installed the AFCC with the driver - it went downhill. (sample attached) the recording quality was very bad and playback quality too.
I've uninstalled the AFCC and driver - things didn't get better.
After digging and searching many hours for a solution - I came across this:
https://www.sweetwater.com/sweetcare/articles/how-to-disable-exclusive-mode-in-windows-sound-settings/Once I've disabled exclusive mode and set windows playbck and recorcing quality to 48Khz 24 bit and AFCC to 48Khz
Everything worked like magic.
Audiofuse's audio quality is superb!