Finally, found a thread where others are having the exact same issue.
My set up:
Mac Mini, 2012 version running Catalina. Too old to upgrade to Big Sur.
Apple TV 4K, only had it a few months and it upgraded itself the other week and I’ve been having this issue ever since.
Everything is connected via Ethernet, and the sound bar is also hard wired, not using Bluetooth.
I don’t have a TV, the Apple TV is connected to a projector via an expensive HDMI Cable.
I have 1500 or so movies and shows ripped to my computer, some play fine but the vast majority don’t.
Like everyone else, a few minutes into a show and the audio starts to lag behind the video and there is a popping and crackling sound as well, but only on videos being streamed from my Mac Mini. YouTube, Netflix, etc., all play fine.
I can stream to my iPad from my Mac Mini, and it works fine. Also, playing a show on my computer is fine, only when I stream via the Apple TV.
As an IT Person, I have gone through and ruled out every other possible issue. I’ve used my AirPods instead of the sound bar, same issue. I’ve moved a film from my NAS drive to my hard drive, same issue. I’ve reset everything, re-established my Home Sharing link, etc., etc. Same issue. It all points to the latest software on the Apple TV 4K. I’ve even re-ripped some shows, testing different settings. Same issue.
I still have my previous generation Apple TV (Apple TV HD I think it was called). It plays the shows just fine, no sync issues.
To be honest, between this issue and the absolute rubbish design of the remote that came with it, I’m nearly ready to throw it out the window.