UE5 Fails to import any sounds

I have tried .ogg, .wav - all result in the same error. I am editing and exporting sounds from Audacity using the default .ogg export settings. Importing these same sounds in UE4 yields no errors and turns out fine.
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'Unrecognised sound format ‘ogg’ '?

This one with the .WAV test says ‘Only PCM, ADPCM and DVI ADPCM can be imported’

I’ve just had this exact same issue. Fortunately I found some answers from the UE4 Archive and it helped me.

You can download Audacity can convert the WAV audio encoding into 16-bit PMC. Unreal Engine 5 doesn’t seem to accept any .wav files above 16-bit, not yet anyways.

Hope it helps.

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It will accept above 16Bit, but cannot be floating point.