I get the same thing with Sonnox Dynamics VST3 in Wavelab. You can push buttons and turn knobs but they do nothing, and there is no metering. But it seems to work fine if you run it from within Blue Cat Patchwork in Wavelab.
That’s 3 plugins I’ve tried that seem to work fine from within Blue Cat Patchwork in Wavelab that, when run normally in Wavelab, have serious problems. (Acustica crashes on master section render, AMBEO VST2 crashes on load, Sonnox VST3 does no processing):
Acustica Ivory3 Comp 3B
AMBEO VST2
Sonnox Dynamics VST3
I guess it makes sense it would be different, but it would be nice if they worked normally in Wavelab, without Patchwork.