I am using the Quick Setup 1, the MOXF Remote Tools 1.04 and connect to my CPU with USB.

If I press the DAW Remote button, how should I setup Cubase to synchronize & record incoming MIDI or audio from the MOXF.

Thank you

This is quite a wide subject, which has been covered in both writing and videos.
A good place to start would be to read the articles on this fine site,
http://www.motifator.com/index.php/support/moxf_articles/

The DAW Remote button isn’t directly for recording MIDI and audio in Cubase, it is more for controlling it. Transport, change tracks etc.
In your Cubase project, it’s more about getting your MIDI and audio tracks routed correctly.

There’re also quite a few ways to record your audio in Cubase, I personally don’t use my MoXF as an audio interface.
Things like this you will have to decide yourself how to use.

Read through the articles, watch some videos and if/when you get stuck, I’m sure someone here will be able to answer any more specific questions you may have! :-)

Best of luck!