The ELK hardware has been in the works for some time now, based on the real time audio optimized OS designed for embedded use. It allows the running of VST/AAX/AU and Rack Extensions on hardware which has the ELK OS embedded. The realtime latency is quoted at 1ms.
You can see the piece we filmed at NAMM 2019 (remember that?):
The ELK Live platform is the first hardware product available from the fruits of the ELK Audio OS and is designed to give hardware network bridges to allow distanced networked collaborations. Each participant will need to own the ELK LIVE Bridge. Connections are handled directly to the router, but also have a video conference interface.
You can preorder for Q4 (US, EU and Canada for £279 *full price will be £349 here:
The hardware features:
2 analog inputs (XLR / TRS combo connector)
LATENCY It depends on distance and your specific internet connection, but in general you get about 100 km/millisecond (62 miles) on an average fiber connection (Approx 50% of what you can technically get from a pure fiber connection). This means that playing with someone 1000 km (621 miles) away will give you an overall latency of 10 ms. About the same latency you will get from standing 3 meters apart in the same room.
Developments for Korg's instrument have been slow but promising.