The Gem Multi can do the same latency as the Bela Rev C cape, as it shared the ADS8166 ADC and ES9080Q DAC that the Bela Rev C uses. The lowest latency path is from analog input to ES9080Q output. Group delay on the ES9080Q (which serves output channels 2 through 9) can be as low as 2 / fs is slightly higher than the AD5668 DAC that was on earlier revisions of the Bela cape.
When running at 44.1kHz, 2 analog channels, 2 samples per block, I measure 244us from analog in 0 to audio out 2 . At 88.2kHz sampling rate I get 217us.