Error opening sound device Big Sur 11.5.2


I recently updated to the latest version of Big Sur (11.5.2). When I try to playback tracks I imported, I keep running into the error message:
“Error opening sound device. Try changing the audio host, playback device and the project sample rate.”
Audacity Error Opening Sound Device.png
I have checked my Privacy and Firewall settings and Audacity is ‘checked’ to grant access to the microphone. I am able to record into a track but get the error message each time I try to play it back.

I am running Audacity 3.0.4