I have had the exact same issue that I think both KoneDawg and quioloy are describing. It has happened to me exactly once.
I'm using a BabyFace pro, Win10 64, have Realtek main board audio (like most PCs), and use Reaper for DAW.
I don't have any thesis about the cause, but I'll share what I remember happening before the problem occurred. I did two unusual things, so I figured the audio issue was related to one or both.
I had been running Reaper and the Superior Drummer 3 VSTi for a few hours, no problems. I decided to take break from drumming for a bit to do a few things. First, I wanted to copy a bunch of the Superior libraries over to an external USB drive to use on my laptop. The USB drive was plugged into the same external USB hub as my BabyFace (and vdrums and MIDI control surface). Copying the samples just wasn't going anywhere. It was copying, but it was slower than a snail, so I could see there was something very wrong going on. I cancelled the copy operation and moved the external hard drive from the USB hub to a direct USB port and then copying worked at normal speed. I assumed I was just drawing too much power on the hub and the drive couldn't write.
Then I installed a new VSTi I wanted to try. Turns out the VSTi was bugged. It crashed upon loading in Reaper several times. I uninstalled it, reinstalled, and same crashing every time. (It installed a standalone version as well as the VSTi, so it wasn't just purely a "copy the VSTi to the Steinberg directory" thing).
Then I opened a web browser to go to the VSTi maker's web site do download the latest version. While there I listened to some of the audio samples on the website and that's when I noticed the audio distortion. I pulled up TotalMix to see if it something was clipping there, but it was fine. Way below clipping levels. To test what was going on I opened YouTube, and same audio problem there. Everything sounded heavily distorted constantly, almost like hard clipping sounds but not exactly. It wasn't clicks and pops, it sounded sort of like something was clipping somewhere in the audio stream, but not quite the same sound as clipping.
I pulled up Media Monkey just to see if it was happening with mp3's as well, not just web audio. Same thing, everything had the same constant distortion. I went back into TotalMix again to see if maybe I had some sort of effect on, but everything looked fine there.
So I rebooted and then everything was fine. And it's been fine ever since.
I tried to replicate the problem by reinstalling the broken VSTi. The VSTi still crashes on launch, but I haven't been able to recreate the audio issue. I don't really feel like trying the write test to the USB drive again because I'm not keen on power starving the external drive while I'm writing to it.
I don't have any latency issues on my system. It's an i5 6700k system, so not a super powerhouse, and I run Superior 3 in Reaper for live drumming at 48 samples for hours on end with no problems. Half the time I'm streaming torrents in the background and playing along with MP3's that I'm streaming through Media Monkey off a local server. I'm just saying that I don't suffer any kind of kernel latency issues. But this isn't a latency-driven clicking and popping sort of thing.
There were no other system lag issues going on at the time of the problem. I pulled up the task manager just to quickly check if I had any kind of malware on my system (I thought maybe the buggy VSTi install had virused me) but CPU usage was 1%, memory 14%, drive and memory usage low, and no new or unusually processes visible.
If it ever happens again I'll do some more testing. In particular I'm curious if the windows audio would have remained distorted if I switched the playback to a different device (e.g., motherboard audio ports or a different USB audio device [I always have Creative H7 headphones plugged in for online gaming voice comms]). That would obviously point to something in the windows audio subsystem rather than the RME drivers.
To be clear, I don't think it's an RME issue. I have enough audio toys, software, and systems that I run into this kind of thing maybe once a year in some way. If this were an RME issue that has been around for 5 years there would be numerous complaints, not half a dozen complaints over the past 5 years.