Having problems installing a virtual audio device

[W S7]

I just installed voice aleration spftware to my windows 11 desktop. It requires a virtual audio driver for the software to work. Installation of software and driver seemed to be ok - but there is no Microphone (virtual Audio device) under sound input/output. When I looked into my device manager to check, I can see the virtual audio device added under sound, video and gamingcontollsers. But when I looked into the properties of the avnex virtual audio device, I see a problen. Even though the general and details tab showed everything as fine (device is working properly), the event tab

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