I just updated to Audacity v 3.4.2 and can no longer record from my soundcard or speaker output. My only choices are the microphone and Windows Sound Manager. I am running the latest update of Windows 10 (10.0.19045). I have rebooted the OS but I still do not see any other options for the Audio Setup Recording Device. My older version (v 3.3.3 x64) worked fine. I uninstalled v 3.4.2, deleted the Audacity folder in Program files and installed v3.3.3. Now it only recognizes the microphone and Windows Sound Manager.
More observations. After updating, I was able to select my soundcard but noticed I was recording in mono. I switched to stereo and lost my ability to record from the sound card or speakers. I switched back to mono but it did not fix the problem.
I looked at Help=> Diagnostics=>Audio Device Info and see that the following devices are listed:
Device name: Digital Audio (S/PDIF)
Device name: Speakers (High Definition Audio Device)
These were formerly available in the Audio Setup tab. Now the dropdown list only includes Device ID 0 (Microsoft Sound Mapper) and Device ID 1 (Microphone). Could the problem be the dropdown list is not being populated correctly?
Problem fixed. Changed host to WASAPI and High Def Speakers and Digital Audio options appeared.