For others having this issue --- the best workaround for now is to go back to version 44.6 as mentioned above. It definitely broke in 44.7 so you'll have to use a prior version until a fix is rolled out
I am also having this problem as well. People can hear me fine with my Studio Display Mic. But I can't get any audio to work on my Studio Display any longer. The test chime in settings does not work either
