This is weird and I wonder if anyone here can unravel it.
Go to an init patch.
Add some delay.
Go to the Filterbank and add Ring Modulation, Mix 100%, Frequency +0, Stereo Phase -64
The delay disappears.
Move frequency to anything but +0 it comes back.
Move Stereo Phase to anything but -64 and it comes back.
Anyone know enough about what's going on here under the hood to explain it?