Lost sound on ALC1220 after driver installation

Hardware:
Mobo: ASUS B450-I STRIX (ALC1220 codec detected as AMD Starship/Matisse HD Audio Controller)
GPU: Gigabyte GTX1060 6 Gb
Distro (tried multiple): Arch, Ubuntu, Fedora (with pipewire too)
Drivers: 465.31-1, issue also met on earlier 400th versions

Before I install proprietary driver, the sound works fine on both HDMI and ALC devices. However, after installing driver the sound on matisse controller is gone after a couple of seconds on system boot. HDMI sound still works.

Sound on ALC is present if I keep pavucontrol open (just open in background). It also appears back if I change default device to HDMI and back to matisse for same couple of seconds and then mutes again. What could cause this issue?