There have been reports of audio problems in the studio display and Apple has released a new update. If you want to download and install the new update, you'll need to be on macOS Monterey 12.4 or later.
According to a memo, Apple was aware something was happening. According to the memo, Apple said that the audio problems were not due to the studio display's hardware, and recommended that customers plug the display back in after 10 seconds, and then remove any accessories or devices.
It is not clear if this new update addresses the problems people have reported, though it seems to have fixed an issue that someone has been dealing with. Even though it is a huge hassle, you can always try to get the display unplugged.
The audio issues aren't the only problem that has affected Apple's display. Apple has released a fix intended to make things better, but it isn't as good as you might think.