That USB cable for microphones has to have a built-in sound card device. When you plug it in, you should see a new device show up in the list of recording devices. Set that new device as the default in your software.
The headphone and speaker audio levels from the radio might be too high for your USB soundcard device. You would probably get better results from an accessory output. This is what makes the Signalink the better interface for remote operation. You use the radio's accessory audio path, which usually doesn't change if you manually operate the radio when you are in the shack. (Remember to disconnect/disable your microphone if it stays active... )
Your new cable is basically just half of a Signalink. This would probably not be an improvement over that interface, unless you just want more flexibility.
FYI, Windows 10 has a bad habit of rearranging sound devices and serial ports when it updates.