[Goldreap]

'Input monitoring' is about external inputs, not receives, so you don't actually need that here.

Recording output latency compensated is for when you have an external input into the track.
When recording what is already on another track via a send you should not use the latency compensated option.
Think of it like this:
When recording output of a track:
1/ If input is external I need the usual latency compensation that I get anyway when recording an input.
2/ If the source is on another track there's no latency anyway (nothing to compensate for).