Ping-pong delay was fixed in 24.02. Make sure you're using the correct firmware and your output(s) are set to stereo.I tried 4CM today as well. Ping Pong is definitely not working which is what I use to test if I set everything up all right. After spending a few hours on it I came here and found there were issues with it in 24.01. Cliff mentions it has been fixed in 24.02 Beta1 but it's still not working for me.
Edit. I just tested a straight preset and its not working in non 4CM setup as well. Also, I'm not sure if this issue is related to the OPs issue.