which audio interface are you using? and are you on Mac or Windows?
I had something like this happen to me not too long ago and one of the solutions, I figured, was to go into my asio driver and make sure the interface I'm using is selected under the WDM Device List.
How to find this - in the main new song menu go to Studio One >Options/Preferences>Audio Device>your device or Asio4all V2>Control Panel.
There you should be able to select your interface you would like to run under the WDM Device List. This includes looking at the 'simple view' tab ( the one that looks like a mechanical symbol) and clicking it off (it would show up as a cross symbol when selected if that makes sense).
Also, look into updating your Asio Driver,s as well Universal Control app and anything else related. Failing all that I would look to open a support ticket in your account and get one of the team members to help you.
Hope this finds you well.