Latency is the amount of delay from a given command, to the point where the command becomes action. Zero Latency is best, if it can be achieved, in most situations. In the audio world, There may be situations where a greater latency is desired.
Those settings noted may be a little ambiguous. If the higher numbers refer to speed as in 1024 is a fast time, and 2048 is faster, then try moving to the top speed.
What I would guess, is that it is more likely refering to incremental steps. Whereas: there are 2048 points/increments in a digital proportional command...like a volume/value knob with more precision, at 2048 than at 1024.
Eh, I could be wrong, just going from experience with Radar alignment and calibration back in the day...