FIXED!![br]
On my version of Windows (Windows 10 Enterprise v 20H2), I had different menu options than given in this thread. I right-clicked the speaker, chose "Open Sound Settings". Then, under Output, I clicked "Device Properties". Then under Related Settings, I clicked "Additional device properties". I then UNCHECKED "Enable audio enhancements". This fixed my muffled speakers issue. Sad that I had already returned the speaker I really wanted because I thought it was the problem. Plugging in my Sony WH-1000XM3 headphones let me know it was the system and not my speakers giving me problems.
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