I have almost the exact same issue. Did you ever resolve your issue?
Windows 10; Version 1709; OS Build 16299.309
64-bit; x64-based Intel i7-6700K CPU @ 4.00GHz
Presonus StudioLive AR16 USB Connected via USB 2.0
Driver Version: 126.96.36.199856
Capture 2 Version: 188.8.131.52326
In Capture 2 I am able to record from the mixer. I see the audio levels jumping on the mixer and waves being recorded in Capture.
After I record, and I can see the waves did in fact record, I am not able to playback audio unless I change my audio device from StudioLive AR to Windows Audio. At that time I can playback my recorded audio. Of course after that I am not able to record unless I change my device back to StudioLive AR. Solved this by NOT pressing the 1/2 button above the main fader below where it says USB Send. In addition you must have the 17/18 channel armed for recording in order to hear the playback from any other channel after recording. How this makes sense? I do not know. I mean honestly, who throws a shoe? Found that answer here: https://support.presonus.com/hc/en-us/articles/115000500463-Setting-up-your-StudioLive-AR-series-mixer-with-your-computer-
Also, any time I use Capture, and close the program, my audio playback for other programs ceases to work until I re-enable the board in my sound settings as the default device and/or close the other programs and re-open them.
My driver is up to date according to windows, but in the events tab it does state "Device USB\VID_194F&PID_0701\5&125bab54&0&5 requires further installation." I have uninstalled and reinstalled the driver more than once.
Any Ideas as to whats up with the inconsistencies?