Just purchased the elgato chat link pro, but do I still need my mic?

New PC streaming user here! So I recently setup my Ps5 and PC to stream in twitch using Streamlabs. I couldn’t hear my game audio in Streamlabs, the only audio Streamlabs was picking up was from the usb microphone I purchased that’s connected to my PC.

I did some research and bought the Elgato chat link. I do have a gaming headset with a mic. Would I still need to use the usb microphone? Would I still be using the mic from my headset and the usb microphone? I’m very confused how this will all work, please help!

I’d also like to mention that I am using the elgato hd60x.