Thanks Leanne for replying, yes I tried all your recommendations to trouble shoot audio sync issues on my new Apple TV 4K's 'Home Sharing' from iMac's iTunes (version 12.8.3.1) and the issue still persists. I also tried Ethernet cable plugged in direct from WiFi modem to the back of the Apple TV 4K and still Home Sharing audio sync issues.
I found this recent ongoing thread very helpful to isolate the issue: https://discussions.apple.com/thread/252716640?answerId=255121713022#255121713022
Seems the audio sync issue is new since TVOS 14.4 updated to TVOS 14.5 and currently 14.6. The issue is consistent across all Apple TV 4k models and Apple TV HD models who did the upgrade. It also seems to be an issue on MP4s with stereo sound, instead of Dolby 5.1 sound.
I spoke to Apple again and the retailer I purchased it from to arrange either a refund or replacement.
If I go replacement and try again, it's been recommended to keep software running 14.4 out of the box and disable 'auto update' software until Apple acknowledge and fix the fault on a furture upgrade.
Note: The Apple TV3 I tested here today using same Wi-Fi, same iMac/same iTunes to Home Share has no audio sync issues & never has.
Note: TVOS 14.6 which auto updated 2 days ago on my Apple TV 4K box DID NOT FIX 'Home Sharing' Audio Sync issues.
Hope this info all helps.