Yes... That's the one. Although I find each device needs 11ms of delay to be precise, depending on asio settings. I've even gone as far as to edit the midi device scripts for my hardware (midi device manger). Unlocking easy access to extra internal banks, expansion slots etc. I have an old CS2x and it took almost a year adding each wave name to the CS1x script (a few each day). They've since added the CS2x Script but it doesn't have the material voices selectable so it was still worth it. Sys ex is a huge WTF but another great Cubase feature is the tools they have under the hood to write these scripts.
I wouldn't set up your Snow that way. VC and USB makes it as such by default. Have you had any luck with it yet?