Odd indeed. What version of Videopad is being used?
Open Windows Volume Mixer by right-clicking the speaker icon at the bottom-right of the screen.
In Windows 11...

Confirm that the Videopad audio slider is at full volume.
If still no joy, please share your project for analysis. The process is easy, quick and can be done privately. Just follow these steps...
Back up --- With your project on the timeline, click on MENU at the top-left. Click FILE|BACK UP PROJECT FILES TO FOLDER. Choose a folder and SELECT FOLDER.
Upload --- Use a free server - Google Drive, MS OneDrive, etc.* - to upload the saved, numbered FOLDER. Do NOT upload the individual VPJ or export file.
Get link --- Get a public link. Right-click the file and click SHARE. When using Google Drive, if necessary change "restricted" to "anyone with the link can view"
Share --- Click COPY LINK | DONE. Paste that link here, or click the folder at the top-right of this forum to message it privately to me. It won't be shared.
* Before uploading, right-click the folder, click PROPERTIES. Look at the File Size to confirm that it's not too big for the free space on the server.