Post your computer specs and buffer settings.
Update: It looks like you are right. It doesn't support project rates above 48k. I didn't know that as usually just work in 48k projects. I think IKM should remove this blurb or at least clarify in what sort of scenarios does the product support this sample rate. Perhaps add an addendum in the T-Racks manual as well.
Supports sampling rates up to 192 kHz
I tested on my setup which is a Focusrite interface and Cubase DAW.
Setting the sample rate to 192 and 1024 buffer in the audio driver and launched T-Racks and loaded a wave file. When I check back the project settings, it seems launching T-Racks forces the driver to change back to 48k. I tried different things, and launching T-Racks standalone forces 48k sample rate.
I then tested this in my DAW. I changed the sample rate to 192 in the audio driver and loaded DAW, check that it's still a 192k project. Loaded the wave file and then loaded Tape 24. If I activate Tape 24 plugin, there is no sound out of audio interface and you can't use the product. I checked studio setup and audio routing is working fine. I think tested this and compared to using other tape emulation plugin products I own, and the project plays and works fine at 192k, but if I disable the other tape emulation and activate Tape 24, there is no audio.
I opened a support case/ticket with IKM support to make them aware. If they provide any sort of tips on how to make this work in 192, i will share.