irst, relocate anything important to USB 2.0 ports. This is likely your mouse and keyboard, but may include an external drive or something. Most 3.0 drives can run slowly in a 2.0 mode.Second, download copies of your ASMedia (Asus's name for mobo software) drivers in case things don't work out. Always good to be prepared.
Next, open your Device Manager. On every recent version of windows this can be done from the System dialog (windows key + pause | break key) and is usually found on the top-right of that. On Windows 8.1 and newer, right-clicking the start menu should also have an option to open Device Manager.
Now, I'll admit I don't know the names of everything here exactly and am going off memory so you may have to guess a bit. Under Universal Serial Bus controllers should be something like 'ASMedia USB 3.0 eXtend know Host Comtroller'. If it's the Windows copy it will say (Microsoft) after the name I believe. If it doesn't, there's your problem.
If your driver is provided by Microsoft, ignore the rest here. The Oculus utility is likely complaining about Asus USB devices in general (my capture card has a utility that does this too) by name alone, but your driver will make your controller behave as a standards-compliant 3.0 controller.
So, if you have Asus drivers do this. Right-click the device / driver and click Uninstall. When one of the dialogs asks if you'd also like to delete the driver, check that option so it will. Without deleting the old driver, upon rebooting it will just reinstall automatically which we don't want.
Next is a tricky voodoo magic part. Even with the windows drivers, the AI Suite software that comes with Asus drivers can still screw things up. In particular, look for anything related to USB 'boost' or 'quick charge' and disable it.
Reboot once you're done.
Once back into Windows, let the Device Installer try to install the Windows driver. If it doesn't do it (usually the case, but not always oddly) then we'll need to go back to Device Manager and do it manually. In any case, check the driver again to see if it is the Microsoft provided one. If it is, you should be good to go. Move your devices back to their previous USB ports.
If the controller didn't install, we need to look for a device with a yellow alert placard symbol next to it. It can go by all sorts of names (generic micro controller, unknown USB hub, etc) but it'll have that yellow triangle with an exclamation point in it.
Right click that device and find the option to install a driver. This varies by version of Windows. However once you find it, you can let Windows try to search your drives for a proper driver. Usually a Windows version driver shows up in the list. If not, click Choose a Driver or similar. Here you can choose by manufacturer (Asus, ASMedia) and then pick a matching driver. Look for the closest match. If nothing matches the ASMedia 3.0 controller, check under Microsoft as the company for a generic USB 3.0 controller driver. Once found, select the driver and click Next. A few confirmations later and you should be good.
For good measure, I recommend rebooting again. Most of the time it isn't necessary, but with micro controllers there's sometimes issues without reboots.
Personally, I ran the Microsoft ASMedia controller driver a while with no real issues. I forgot why, though I seem to remember it being software related, but I had to swap to the Generic USB 3.0 Host Controller driver from Microsoft. It worked flawlessly as well, so that's always a viable option.
If by chance things go south, just reboot and reinstall the Asus provided ASMedia drivers. There's a chance it'll still work (sadly, a low one) with Rift as some of their mobos worked properly. If not, buy a decent USB 3.0 expansion card. A PCIe card will likely work fine (x4 lane ones may top out at 2 ports used though, which is fine for Rift) but if you have one laying around try a front-panel header expansion. Some cases come with 3.0 front panel header plugs. I mention these because in a lot of Asus mobos, the rear USB ports use a cheap controller while the expansion headers are straight Intel brand. Ditto SATA ports as well, where if you have them usually ports 3-8 are Intel controlled, just FYI.
I hope that helps in a little more detail. When I get home I might update this to be a little more accurate, as my Asus PC was converted into a media PC but otherwise left untouched. I'll check how it's configured and see if I missed anything.