My first thread was closed after 30 days - as I was diverted by work, so was unable to continue trying to get Audacity to work.
However, I am now back in the fray. 
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Now, @mac-christian posted this:
“This seems to be a question of the sound settings either in your computer or in Audacity. You want to hear what you are recording from vinyl? Then you can either activate “playthrough” in Audacity. In v3.5 I think it is under “Transport / Transport Options / automatische Eingangsüberwachung”. This is the German translation, but it is here the last item there at the bottom. In previous versions, it was called “software playthrough” or similar.”
YES! That did the trick. So thank you, @mac-christian. 