I have tried to reproduce your issue in 4.7.6, but I was unable to do so. Could you check Edit->Editor Preferences->Level Editor-> Play and ensure that the enable sound box is checked under the Play In Editor section?
I have read every post I could find on the topic and have tried it all to no avail.
Enable editor sounds and enable sound are both enabled. Sound slider fully maxed in the settings menu. Realtime is enabled. I have checked and have the config file in the engine/config/windows section of the engine.
The issue is constant, and affects every project I have on UE4 4.7.6 - it is not contained to one project.
I have started new projects and have over 8 for this version and all do not have working sound anymore.
I have done a complete reinstall of 4.7.6 from the launcher and still the problem persists.
Are there any files that don’t get deleted when you delete a version using the launcher?
I found out that my sound for UE4 4.7.6 was specifically set to a disabled device by an external program. I use CheVolume to split where my sound goes and that seems to have been the issue.