XAudio2 failing to initialize in Development Editor but works in DebugGame Editor

Development Platform & Builds Debugging, Optimization, & Profiling
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Hi,
I’ve been plagued with my audio not working in 5.3.2. XAudio2 fails to initialize.

[2024.05.03-08.31.17:820][  0]LogAudioMixer: Display: Initializing audio mixer using platform API: 'XAudio2'
[2024.05.03-08.31.17:871][  0]LogAudio: Warning: Could not initialize hardware. Tearing down anything that was set up during initialization
[2024.05.03-08.31.17:871][  0]LogAudioMixer: FMixerPlatformXAudio2::StopAudioStream() called. InstanceID=1
[2024.05.03-08.31.17:871][  0]LogAudio: Warning: FAudioDevice::Init Failed!
[2024.05.03-08.31.17:871][  0]LogAudioMixer: Warning: Audio Platform Device: XAudio2 was not initialized. (File D:\build\++UE5\Sync\Engine\Source\Runtime\Windows\AudioMixerXAudio2\Private\AudioMixerPlatformXAudio2.cpp, Line 1504)
[2024.05.03-08.31.17:871][  0]LogAudioMixer: Warning: Audio Platform Device: XAudio2 was already tore down. (File D:\build\++UE5\Sync\Engine\Source\Runtime\Windows\AudioMixerXAudio2\Private\AudioMixerPlatformXAudio2.cpp, Line 698)

The problem persists only in 5.3.2 install from Epic Games Launcher, in both cpp project and blueprint projects, and with fresh installs of the engine.

I’ve narrowed it down a bit - XAudio2 fails to initialize in Development Editor, but it works in DebugGame Editor. Attached are the two logs.

Why could this be happening? Unfortunately I don’t know enough about configurations, so am just operating on trial and error to fix this.

Thanks in advance for any help.
test_EG5_3_build_developmenteditor.log (190.7 KB)
test_EG5_3_build_debugeditor.log (191.2 KB)