I updated to the new iCUE 5 yesterday and immediately noticed audio crackling/popping in a game I'm currently playing (Detroit Become Human).
I'm using an HS60 Haptic headset. I uninstalled it and it's drivers from Device Manager, and uninstalled iCUE 5. I rebooted, installed iCUE 4, and the issue was fixed. Nice clean sound. No issues whatsoever.
I repeated the uninstall process to install iCUE 5 again (this time by downloading the installer from the site instead of within iCUE), and the problem came back. I've tried this routine twice, and iCUE 5 always presents audio problems. There is definitely an issue with the new iCUE 5 software/drivers.
Interestingly, when you go to Audio Enhancements within Windows / Sound Settings, "Device Default Effects" is selected, and below it says "Corsair Audio Output Effects". Switching this OFF also gets rid of the problem (assuming because it's now using Windows drivers instead of Corsair), however the EQ in iCUE is now unusable.
This doesn't happen with all games though, but still, it's definitely a problem.