Please see my comment to your question. There are a number of questions. This is certainly possible, but…
This is the worst kind of integration I could imagine. This is still acceptable if you don't have a source code of your C++ project, and if the C++ application is very simple console application so you could read all the output at once and wait for the child process to terminate. By the way, this is better solution for a child process: run it all synchronously and wait for termination (how else would you know it is terminated?) but it a separate thread of the parent process.
However, this game is awkward. If you need real integration, do it all in one process (but you can use different threads). Modify your C++ project into DLL. Then you have two options:
—SA