Audition 3.0’s native ASIO driver fails on Windows 10 64-bit. Download and install ASIO4ALL (v2.15 or later) on the host machine (one-time per PC). Then, inside Audition:
While the nostalgia for Audition 3.0 is understandable—specifically for its multitrack view and spectral editing—modern users on Windows 10 have superior, safer options: adobe audition 3.0 portable windows 10 64 bits