Hello Jon, welcome here 
Start by searching this forum for answers by typing “latency” in the search field, and you’ll find this, for example: Latency
There are many other interesting posts.
Secondly, we don’t know the characteristics of your equipment, especially your OS, so I can only add answers for Windows users.
Here is another post found with the search field: Midi guitar 2 awful latency(pc)
Furthermore, Windows being a “family” OS crammed with useless stuff, the aim is to remove many useless elements and to have a machine dedicated as much as possible to audio.
This will of course reduce latency and improve the performance of your machine, but above all it will ensure that you have a reliable and stable system.
Take a look at this guide to optimize Windows and, depending on your level of knowledge, apply the advice: The Ultimate Guide to Optimize your Windows PC