If you like me are having a problem with a HP ZBook device and/or is running a HP Dock with Thunderbolt 3, then I found a solution that worked for me: HP Support page
For me it was both the Synaptics/Conexant audio driver for the built-in device, AND Synaptics/Conexant audio driver for the HP Dock (named HP Dock audio in device manager).
If you are running some other kind of Thunderbolt dock, it might also be worth to check that the audio driver for that dock is newish (mine was from 2019), otherwise uninstall driver for it (make sure to uninstall driver files), unplug dock, reboot and then try running Windows Update again.
And as I wrote on the linked page:
And if someone at HP is reading this - shame on you for not providing a fix for this!
And if someone at Microsoft is reading this - why haven't you provided a workaround for this or published information on how to do it. And publicly shamed HP+Synaptics for this mess. This problem has been with us for about a year since it also faulted the 2004 feature update (already insider builds).