Should the recording-level slider be affecting playback volume ?, 
(Level of volume heard is shown on the vertical green meter).
Audacity 3.3.2 on W8.
This behavior does not occur on Audacity 2.3.2, (on same W8 computer).
No, of course it shouldn’t, but Windows 8 has been officially obsolete since last January. If the issue only occurs on Windows 8 then I suspect that it is highly unlikely that it will be fixed.