You can try creating a new macOS user account. Log out of the main user account. Log into the new macOS user account to see if you have the same issue. If the new user account works, then you have a configuration issue with your main user account (or a Login Item may be causing a problem).
Have you tried booting into Safe Mode to see how it works?
You can also try installing macOS to an external USB3 SSD and boot from the external SSD to see how your audio behaves. I guess if you have enough Free storage space on the internal SSD you could create a new APFS volume and install macOS to it (just make sure to give it a unique name....maybe "macOS Test"). Do not install any third party software. Do not restore from a backup. Do not log into your AppleID or iCloud (this is very critical when troubleshooting). If this works, then you know you have some sort of software or settings issue with the internal boot drive. Reinstalling macOS over top of itself doesn't do much these days due to the sealed system volume.
You can use the command line to clear the NVRAM (both Intel & Apple Silicon Macs.....just don't configure any specialized settings for the NVRAM or it may prevent an Apple Silicon Mac from booting since most Intel settings are not compatible). Launch the Terminal app & issue the following command:
sudo nvram -c
This will prompt you for your macOS admin password. Nothing will appear on the screen as you type the password. Press the "Return" key to submit the password.
You may see a message that certain settings cannot be cleared (usually associated with the computer's name). As long as there are no other errors saying the command failed.....reboot the computer so that the system loads the default NVRAM (aka PRAM) settings. You will need to re-select the default Startup Disk in System Settings.
Unless you have some third party software installed which can affect the audio processing of macOS or you have external speakers/headphones connected (or anything plugged into the headphone jack of the laptop), then you can try a DFU firmware "Revive" which resets the security enclave and system firmware.
How to revive or restore Mac firmware - Apple Support
Revive or restore a Mac with Apple silicon using Apple Configurator - Apple Support