Audacity 2.4.2 will not record through USB to macOS 11.1

I cannot record from my USB turntable to my MacBook Air (2020 Intel chip running Big Sur 11.1). Everything looks good - I can see that the USB input is registering sound on the MacBook Air’s sound input interface and I see that input as an option on Audacity - but the sound is not recorded in Audacity. Has anyone else had problems with recording with this set up?

Using all the same equipment and settings, I have successfully recorded from the USB turntable to my old desktop Mac (but the processing speed is too slow), and my partner’s Windows laptop (but I can’t monopolize his machine for too long).

My USB turntable has a “project rate” of 48,000 Hz but that setting does not seem to be available in Audacity when I set the source to that USB input. Is it possible that is the issue? Again, no trouble getting a recording to happen with either old Mac desktop or windows laptop.

Not a Mac guy, but are you looking in the lower left-hand corner of the Audacity window where it says “Project Rate (Hz)” ?