Pics below. No, regular audio files do not play.
Tried input monitoring deselected, same issue.
Pics show after I deselected exclusivity.
These screenshots show that you are using 48k Hz. Please change it to 16-bit 44100 Hz (CD Quality) and click OK. If there is only the option of 24-bit 44100 Hz (Studio Quality), choose that instead. RealBand, PowerTracks, and Band-in-a-Box all uses 44.1K Hz, so having anything along the audio chain be a different sampling rate can cause issues.