Macbook Air 2020 - HDMI no sound coming through the TV, video is fine

I got a Philips 4K UHDTV (55PUS8209), currently i connected my Macbook Air M1 2020 via. an USB hub and an HDMI cable into the Philips HDMI Port 1 (the eArc port).

The screen is working fine and showing up on the TV, however no sound is coming through. I double checked that it's not an issue with the TV / USB-hub or the HDMI cable, as they all transmit video and sound through other sources, i tried with my iPhone 16 and it worked fine.

I have scoured the forums and tried various fixes, currently my Sound output is:

"Philips UDHTV - HDMI", as well as; Play sound effects through, Philips UDHTV.

Under Midi Audio Sources i have also set the Philips UDHTV as the used one.

Anyone have any ideas? Something is going wrong with the Macbook, but i don't know what.