New Apple Silicon Macbook and re-installed Final Cut audio glitches

I have an mp4 audio/video file that I recorded some music on and although it sounds fine played natively on my new M1 macbook Pro, when I bring it into a fresh install of Final Cut Pro, I hear little audio glitches and cannot cut the film further as these are too noticeable.

The format of the MP4 is:

This occurs whether I play the video through my UAD Apollo audio interface, the connected 27" display monitors' speakers or the M1 laptop speakers. If it's playing through Final Cut Pro, I hear the glitches.

I appreciate any insights as to why FCP is having issue with this file