I checked this box to verify it works. Mic level is at 100%.

So you could hear your microphone played back. That means your soundcard and microphone work. Most likely they'd also work in many applications like Teams, WhatsApp, Discord... Which means there's something wrong in your AcesHigh sound settings.
Tried to find the location for the sound card in AH Settings but couldn't find it. The ones you posted look right, maybe changing them to other options, saving and rebooting in between and reverting back to originals might solve the issue.