I have actually explored this some more and solved is not exactly right, I am still struggling to use MIDI Mixer productively. The logs are repeatedly showing this:
[2023-01-05 11:47:23.306] [info] Created a new core connection
[2023-01-05 11:47:24.000] [error] CORE ERROR: Unhandled exception.
[2023-01-05 11:47:24.016] [error] CORE ERROR: System.IO.FileNotFoundException: Not implemented
Not implemented
at NAudio.CoreAudioApi.Interfaces.IAudioClient.GetMixFormat(IntPtr& deviceFormatPointer)
at NAudio.CoreAudioApi.AudioClient.get_MixFormat()
at NAudio.CoreAudioApi.WasapiCapture..ctor(MMDevice captureDevice, Boolean useEventSync, Int32 audioBufferMillisecondsLength)
at NAudio.CoreAudioApi.WasapiCapture..ctor(MMDevice captureDevice, Boolean useEventSync)
at NAudio.CoreAudioApi.WasapiCapture..ctor(MMDevice captureDevice)
at Core.Device..ctor(MMDevice rawDevice)
at Core.MixerWatcher.AddDevice(MMDevice rawDevice)
at Core.MixerWatcher.Bootstrap()
at Core.Program.Main(String[] _)
[2023-01-05 11:47:24.026] [error] CORE ONEXIT: false false 3000 3762504530
[2023-01-05 11:47:27.030] [info] Created a new core connection
I think it might be related to UAC and the application not properly using the assigned rights, because starting it with Admin permissions doesn't solve it either.