We are aware of an issue resulting in an audio dropout, followed by large latency - that can be reproduced by toggling the WiFi from off to on while Serato DJ hardware is connected and playing audio through Serato DJ Pro.
At this point, we believe this is limited to RANE hardware, and affects OSX/macOS.
The only work-around (once the issue has been experienced), is to reconnect the hardware. Resetting the audio buffer under SETUP --> AUDIO, will not resolve the issue.
The issue has been reproduced using other audio software, so we believe the issue is not specific to Serato DJ Pro.
We strongly recommend you either disable WiFi before launching Serato DJ Pro, or refrain from toggling WiFi off then on again, if you are using a network connection during use of Serato DJ Pro.
UPDATE: We believe Apple has resolved the aforementioned issue in macOS 10.13 High Sierra (we recommend the latest point release) - specifically around toggling WiFi during playback in Serato DJ Pro, which can cause an audio dropout followed by large latency.
As such, we suggest updating your version of macOS, if you have experienced the issue as described above.