Yes, using the VIRTUAL ASIO INSERTS mode of Voicemeeter as the audio engine of Cantabile permits bringing external signals into Cantabile, which can then be returned with effects applied. Voicemeeter Banana or Potato are the best choices for this, though the lighter-weight Voicemeeter original can be used with VB-Audio’s free virtual cable to send audio to an input strip if you need to run lean. However, all output from the original version goes out A1 and A2 equally and cannot be switched off per channel.
See the following two videos:
If you have any further questions, let me know.
BTW - Amazon Music has a perk Spotify doesn’t have - it permits sending the audio output to any output you desire, so you needn’t set Window’s Audio to Voicemeeter VAIO or AUX to make things work.