On macOS 15.7.3 with the 3.0.2 simulator, if the computer goes to sleep for an extended period of time (for example, overnight) while the simulator is running, waking the computer back up results in no sound from the simulator for anything that would typically have sound. Changing the volume, muting/un-muting has no effect.
Putting the computer to sleep and immediately waking it back up does not exhibit this behavior.
Quitting the simulator and re-opening it restores sound.