There's software that can do this for you as well. I pass both input and output over the network with no noticeable latency (via ehernet).
If you're using Linux and pipe wire, this is supported out of the box:
pactl load-module module-native-protocol-tcp port=4656 listen=IPADDRESS
pactl load-module module-tunnel-sink server=IPADDRESS tcp::4656
They're other methods on different OS's, this is just what I use.