Volume
Why is my apple tv blinking when I push the volume buttons but won’t turn my tv up or down?
Apple TV 4K, tvOS 12
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Volume control should be send from the remote directly to the TV or audio system via IR, unless your Apple TV settings say otherwise (e.g. Off).
Volume control via CEC is only available for receivers that support volume control via CEC. I don’t think any TV supports that.
Control your TV or receiver with your Siri Remote - Apple Support