UPDATE: Issue has been solved, however I don't know why it started in the first place so if anyone has any insight please read (the edit) and reply. Thank you.

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When in first person I can hear sounds like sheathing/unsheathing my weapon, hit sounds, grunts my character makes, footsteps etc... perfectly. However when I go into third person mode all sounds other than music and the weather are either inaudible or close to it. Normally I can hear everything perfectly regardless of first or third person (let alone voices heard in third person since that's just an issue of camera angle)

I've made no changes to my sound options either on my PC nor in game.

My drivers are all up to date and I've installed or updated no mod's that effect audio prior to this mod not working after the last time it was (2 days ago)

For a person who plays primarily in third person, this is an issue that makes it near impossible to enjoy playing the game.

Edit: Played around for a few minutes in game, sounds are getting quieter the farther away my camera is from my character, e.c. I'm hearing sounds from the camera's perspective, which makes sense considering everything sounds normal in first person and very quiet when in third. However even one scroll away in third person is equivalent to maybe 100 some feet in-game when talking about how quiet sounds are in relation to distance.

Have you tried "Loudness Equalization"

Go into sound settings, on the playback tab, right click the speakers you are using and hit properties. Click on enhancements tab and check the Loudness Equalization. (It's the last one i thing)

Yea that was one of the thing's I tried to do to fix the problem before restarting, but all it did was make all sounds louder, it didn't fix my problem.

And how you solved it ???

Do you have an internal sound, or having a PCI card ???

You can try to set to 16 bit 44100 hz, or if you have a 5.1 system, it could be some equalizer settings from your sound card utility if you have a PCI card. !!!!