May I confirm that the latch-clock is a virtual clock to emulate the external device means?
Means 1: External device latches using its OWN internal clock. If yes, this is asynchronous.
Means 2: FPGA sends a forwarded clock to the external device (external device clock derived from FPGA PLL/CLOCK). If yes, this is source synchronous.
What about I/O that is not latched in external devices? How do I constrain them? Simply mark as false path because there is no capture edge on the external side, so STA cannot define a setup or hold window. Any timing analysis from FPGA internal clock to that I/O is meaningless.