I believe I also experienced this problem today.
I was trying to record a choir rehearsal using Audacity from a 2-channel 48kHz USB audio interface, with all "audio enhancements" turned off and the communications tab option set to "do nothing", Windows 11 did a remarkably good job of filtering out all the music and singing, leaving only speech.
I double-checked all the settings, tried re-enabling and then re-disabling audio enhancements, including specifically noise reduction, disabled and enabled "allow exclusive access", reinstalled the audio driver, switched between DirectSound and MME and back again, and tried another audio device. I checked to ensure no other software was potentially modifying audio settings or accessing the any audio devices.
Nothing, absolutely nothing, would allow me to record raw, unfiltered audio. Weird.