Earlier versions of Cakewalk do not generate timecode, but will sync to it. The VS2480 must be set to generate timecode. On the VS2480:

Go to Utility - MIDI - MMC mode = Slave. Source = Midi.
Utility - Sync - Sync mode INT. Midi Out Sync Gen = MTC.

Make sure the VS2480 has both midi cables plugged into your PC's midi jacks (in & out).

In Cakewalk, go to Options - Project - Clock. Source = SMPTE/MTC.
Then go to MIDI Out tab, turn on Transmit MIDI Start/Continue/Stop/Clock and Transmit MMC. and hit OK.

Now Cakewalk's transport will transmit the Start and Stop to your Roland. The Roland, in turn, will start or stop generating timecode which Cakewalk will sync to. This may seem like a roundabout way to do it, but it will work fine.