Delete the printer and redo it manually, do not let Windows do the Query printer and automatically select the driver to use option or you will end up with the MS Class driver, which does exactly what you are seeing.
Also, make sure you use the Global driver (v3) and not the Xerox Print Driver Installer (v4)
Drivers are here
So download the driver and install it, then plug in the printer and when Windows asks for a driver point it at the C;/Xerox folder
I already linked it in my first response
I will be more precise
I tried the following:
1. xerox print driver installer V4.0 didn't work
2. at the page - xerox global print driver I tried install from web - the driver was looking only for net printer and I have USB connection
3. PCL5 32 bit driver - it installed successfully but gave error message when I tried to print
So what next ?