Also observed in multiplayer and seems to have local effect, i.e. if P1 remains at sound source and P2 travels far enough away then returns, P1 will continue hearing the SFX while P2 would experience the bug.
I made a sample mission where bug can be observed, see here: {F3020422}
Repro video: {F3020428}
You will be spawned near the sound source, to reproduce select "Teleport away from sound source" action in scroll menu and then select "Teleport to sound source" action to get back.
Teleporting away moves you 15 kilometers from the sound source, but the distance where bug is produced appears to be shorter.