Hello NYfabulous.
Thank you for using Apple Support Communities. It sounds like you're unable to listen to a specific voice memos. You had mentioned that it's currently stuck downloading. We can understand how this would be an issue. Allow us to investigate this issue and assist in any way we can.
Apple recently released iOS 14.5. This update does include various fixes and helps with overall performance. If you haven't yet, we recommend that you create a backup and update your device to see if that helps.
Update your iPhone, iPad, or iPod touch - Apple Support
If you're already updated, you can try to force close the Voice Memos app and restart your device as well.
Close an app on your iPhone or iPod touch - Apple Support
Restart your iPhone - Apple Support
Feel free to keep us posted on your results. Cheers.