When you work in cubase, then there you make your settings in the project setup. So The bitrate is set in the software you use, not on the urc itself. The control panel are the settings for the driver.
How things are in windows is something else it does not use the Asiodriver but a wdm driver. I am not using windows audio that much, therefore no exprience with it.
On the website you can read that the urc has 32 bit converters, So that is the hardware, you cannot make that adjustment in the controlpanel, only the samplerate.