“are folks experiencing this problem doing so with a modern AVR or Soundbar in their HDMI mix, or is this more of a problem with ATV4Ks connected directly to their TVs and using the TV's internal speakers?”
My Samsung sound bar had been connected via BlueTooth, and the Apple Remote had been controlling the volume. After 17.4, the ATV Remote showed the BT Volume going up and down, but the literal volume was stuck at 100% Full Blast (since I had the soundbar volume maxed out). The mute button did not work anymore either.
after plugging the soundbar directly into my RCA 4KTV, I now have “modern AVR or Soundbar in their (my) HDMI mix” - and the ATV Remote is now allowing mute and controlling the volume- through CEC Auto (IR). I was trying to set up the Samsung remote as a playback and volume device, but that remote did not respond to the procedure. But when I picked up my ATV Remote and pressed the up button, that DID respond to the ATVs “add device” procedure. Oddly.