hey man, i wracking my brain on the same issue. here is how i fixed it. removed the sound card completely out of settings, for the VM. then loaded into the VM and added the USB device back... audio works crystal clear now... great for sip.... I know it might be too late for you, but for anyone else this worked on workstation pro 12.x host was windows 10 pro and vm was windows 10 pro, used multiple USB audio devices in test all worked.
This works for me if I have USB 3.0 support enabled.
I've found that if you can get the default sound device to work properly, selecting the HyperX Cloud II headset on the host machine worked the best. Lately my VM audio has been all goobered up and I can't get it working, so I had to come back to this and try to connect via USB. So, for any other folks that have this problem:
1. Power down the VM.
2. Make sure the audio device is not set to connect at startup
3. Set the USB support to 3.0
4. Sign in.
5. If the HyperX Cloud II headset is already connected, disconnect it.
6. Reconnect the HyperX Cloud II headset.
All should be well.