Small warning for other i160 users, latest iCUE v3.38.61 does not seem to work well on i160, throws an error "no device found" and due to that overheats.
Going back to version v3.37.140 immediately fixes the problem.
As it took me a while, to find previous version, you can grab it from here: https://downloads.corsair.com/Files/CUE/iCUESetup_3.37.140_release.msi