Karnataka DCET counselling conducts only two rounds. So if you are not alloted any seat in the 2nd round as well then you have no options because, 2nd round is the last round and no more rounds will be conducted.

So as there are no third round, you can't wait for it.

To know more about DCET, visit the link provided below:

https://engineering.careers360.com/articles/dcet

I hope this answer helps. All the very best for your future endeavors!