Continuing the discussion from Audio not working through Speakers but, Bluetooth works fine:
I have found out the package to blame is wireplumber replacing it with pipewire-media-session fixed this issue
This bug happened due to recent update which replaced ipewire-media-session with wireplumber .
Edit - Someone already posted this issue on their git Wireplumber broken system audio in archlinux - SOLVED BY UNINSTALLATION (#263) · Issues · PipeWire / wireplumber · GitLab