Jazzmammal, thanks. I tried all of them smile
Including 2 interfaces and onboard chip. I done some extensive and heavy duty testing. As I mentioned in this revised post, I located the issue and it is specifically related to BIAB+Halion combination. BIAB by itself works fine.

Trying last resort of reinstalling Halion and rewriting it's preference file.
If this does not work, there must be incompatibility issue with Halion and latest BIAB. Halion works fine as a standalone and as VST in DAW.

Will update this once I reinstall and test it again.