You said tone direct so I think you probably are using pod farm standalone, but I just thought I'd ask just in case.
By the way, you have made a very thorough list of settings etc.
Thanks for checking in David...
Hi Triryche - speakers and headphones are connected to the UX2 outputs.
User TheRealZap posted a suggestion on my original post in the "lounge" which ended up solving the issue. He had me check that the UX2 was the default in Pod Farm standalone. It was set to auto-detect in PF and UX2 in PF2 - that was probably causing a software conflict which resulted in the delayed playback.
I have just checked Gearbox and it was set to auto-detect as well so I switched it to UX2 - and the issue returned! Fortunately, it dissapeared just as quickly once I opened PF2.
I deleted the shortcuts to PF and Gearbox so that I won't cause myself more issues like that.
Anyway, now latency is reduced to the point of sounding like reverb and not affecting my playing/timing.
Thank you to all respondents!