I did not have any problems with the previous version. I updated to 3.4 and when I hit record I get this screeching I did not get it on the previous version. I did not making any changes I selected track hit record got this screeching sound.
I looked in Transport options and Hear other tracks is selected and enable audible input monitoring were selected I turned those off I got no screeching but not sound during recording. They are now both selected but the screeching is still happening. Not sure what else to try.