I can confirm that this fixed the problem on my end however you can just use the archlinux package archive incase the old packages are not in your cache (which was the issue with me)
sudo pacman -U https://archive.archlinux.org/packages/a/alsa-lib-1.2.4-3-x86_64.pkg.tar.zst https://archive.archlinux.org/packages/a/lib32-alsa-lib-1.2.4-2-x86_64.pkg.tar.zst
Should work even if your package cache has been cleared. Note that you DO NOT need to downgrade the kernel version for this to work (I am currently using the latest 5.13 Linux kernel).