Immerse is compatible with Wavelab and the current version of Wavelab Pro 11 with support for surround sound.
For stereo use, you may insert the plugin in the Master Section Effects.
Alternatively, you could insert Immerse in the Playback Processing section. However, if you will be working in multiple different channel formats, the Effects area is the best because it can also do your downmixing.
You will find Immerse under Embody -> Spatial: Surround: Up-Downmix
If you are working in surround, another option is to use the Immerse Audio Bridge to the Immerse Standalone.
In Audio Connections, Select your Audio Device as Immerse Audio Bridge, and route each channel to the Immerse Audio Bridge.
Depending on if you are working on Mac or Win, follow the instructions to the linked articles below to finish your setup.