Latency is a result of the time it takes for your computer to process audio. It’s important to reduce latency as much as possible, but not so much that you start to experience audible distortion. If you hear audible distortion that sounds like ‘pops’ and ‘clicks’, you’ll need to increase latency a little bit.
Try increasing the ‘latency slider’ in Melodics settings a little bit, until you don’t hear distortion anymore.
Try increasing the buffer size in your audio device settings. Check with your manufacturer or user manual for more information.
Try turning off ‘exclusive mode’ (Windows only).
Make sure your audio drivers are up to date. Check your manufacturer’s website for more information.