Woah! Looks like we’ve had a forum clean up! RIP ‘Matrix X-SPDIF 2’ topic. 
Moving right along, Matrix Audio released another update for the (Windows) ASIO driver on August 19, 2022 (version 5.45.0).
I’ve installed on my Windows 11 and it appears to be working OK.
Just mentioning a possible ‘gotcha’. If, like me, you run the X-SPDIF 2 with an external LPS and you’ve disabled the power line on the USB output at the PC end, you may need to power-cycle the Matrix for it to re-establish a connection with the PC.
You’ll probably also need to reset the Matrix’s device properties via the ‘Sound’ Control Panel applet (mmsys.cpl).
Enjoy (or not)! 
Edit: Oops! It appears I didn’t look thoroughly enough. The ‘Matrix X-SPDIF 2’ topic is still alive and well! I’ll cross-post this comment to there. 