There are other approaches to collaborating with other musicians online.
Here's one: BandLab
It is many things, but one of them is a shared DAW in the cloud. These are the people who bought Cakewalk and it's now free from them.
So no, it's not a tool for jamming live in real-time - so there's no latency issue.
You play along with and add your track(s) to a shared DAW project.