Can't you adjust the note# that the MIDI click sends on Ch10? That must be a VERY old Cakewalk!

Even Atari Cubase you could easily do this...

We've talked about software sequencers on other posts, squeak, but trust me, Cubase (even older versions you can pick up for peanuts) utterly crushes Cakewalk for ease of use, logical layout, and sheer speed.

Give it a try, if you can, before you lock yourself into a 'system' you won't want to give up after time spent.
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An arranger is just a tool. What matters is what you build with it..!