27" Apple Studio Display - Distorted Choppy Sound

I've noticed scratchy sound that deteriorates to being unusable on the 27" Studio Display today. The issue I noticed was when I was on a Webex call. My Mac is a 2021 14" M1 Pro MacBook Pro. Initially, I thought it was Webex meeting's related, so I exited the meeting and re-joined it. After that, the sound went back to normal.

However, then it happened again during the same Webex meeting, and instead of exiting out of the meeting, I switched the sound output from the Studio Display to the internal M1 MacBook Pro's speakers, and the sound was perfect. So, I knew the issue was not with the Webex meeting but with the 27" Studio Display. However, I still thought the incompatibility was between the macOS Webex App and the Studio Display.

Later today, I was watching a video on the M1 MacBook Pro, using the 27" Studio Display for outputting the sound, and the sound started deteriorating again (just like it happened earlier today while on the Webex meeting via the macOS Webex app). So, at this point, I realized the issue had nothing to do with the Webex app. Again, I switched the sound output from the 27" Studio Display's speakers to the M1 MacBook Pro's internal speakers, and the sound was perfect. I then switched the sound back to the 27" Studio Display, and the sound was perfect too.

Switching the output audio away from the Studio Display's speakers and back to the Studio Display's speakers seems to fix the issue with choppy (distorted) audio for some time, but then the problem returns.

So, the issue is not just with FaceTime or Webex App. The issue is system-wide, and I think it occurs in software running on the A-series chip built in to the 27" Studio Display.