After I posted my comment here, I was just doing some more tests like disabling the power savings from all USB HUBs on Device manager on Windows 10, disabling all possible power management options on USB. Did the same on the BIOS. Nothing helped - but then I figured it out -
If you are getting the CPUWB error, Device Not Found message only when you load Windows (meaning that if you double click on flowcontrol after the error message and it will load) - to make this annoyance go away, press Windows key then R - then type shell:startup, this will open the startup folder - copy the flowcontrol app there - it worked.
Now Windows 10 successfully loads the flowcontrol in the right order and it does not show the error message anymore.
The way it was before, I would start flowcontrol manually - then use the computer for gaming, after the gaming session I would shutdown normally - next day I would start Windows and that annoyance would happen, CPUWB error, Device Not Found, then I would double click on the flow control icon and load it then start my gaming session. After I explicitly added the flowcontrol to the startup folder on Windows 10, the problem was magically fixed.
Thank you for nothing EVGA support tech!