Hi,
I am having this same issue.
***Here's some info about the products I am using***
I use ATV4 model A1625 running tvOS 11.3 (15L5186e), iMac (Retina 5K, 27-inch, 2017) running macOS 10.13.4 Beta (17E160e), HomePod model MQHW2LL/A running 11.2.5 (15D61).
The tvOS and macOS are both Beta versions while the HomePod is a commercial release. My home network uses a roaming network structure. My ISP's modem goes to my TimeCapsule which is my router and then there's an AirPort Express which extends the network originally created by the TimeCapsule. AirPort Express is 802.11n (2nd gen) running firmware 7.6.9 and the TimeCapsule 802.11ac is running firmware 7.7.9.
***Here's the situation and description of issue***
I turn on my ATV and go to Settings to select my HomePod as the Audio Output and the audio from ATV goes through HomePod. Then I mirror my iMac to ATV and whatever audio that's suppose to be coming from my iMac, whether it's Apple Music in iTunes or streaming video in Safari, there's no audio coming out of HomePod. ATV still shows that HomePod is the Audio Output because if I try to change the volume on ATV, it shows the name of the HomePod to indicate that's whose volume it's trying to control.
***Similar situations***
1) If I select HomePod as Audio Output and watch Netflix or listen to Apple Music through ATV/tvOS without mirroring, the audio works as expected.
2) If I AirPlay just audio to ATV from iMac, it works on HomePod.
3) If I mirror one of my iOS devices to ATV, HomePod does NOT work (just like mirroring from iMac which is my main concern).
4) If I have a bluetooth speaker (i.e. not a HomePod) as the selected Audio Output for ATV and I mirror from my iMac, the audio comes through but so distorted it's nearly unintelligible.
***Some disclaimers***
I realize this COULD be a symptom of Beta, but my friend has the exact same issue with the audio on ATV when an external speaker is being used. He has almost the same setup, without Betas. He doesn't have an ATV. But his issue with distorted audio on bluetooth speaker when mirroring to his ATV is the same.