In reviewing GSX settings under the audio section I find a box that says "device" in the box showing "no audio" with no alternate shown on the arrow selector.
In the comments section below;"The audio subsystem seems to be working properly"
"The following devices will be disabled because they failed to initialize; Generic Software on Speakers (via High Definition Audio)"
OpenAL is a standard audio library that is used by GSX to create sounds, and it's a very common audio standard with many games, and if there's something wrong with it, like your drivers having a problem/bug or not supporting it correctly, EVERY other game using OpenAL will have audio problems.
These two messages confirms what I've said: it's not a GSX problem, it's a problem with your audio drivers.
The first line is telling the *overall* audio system seems to be fine. However, that doesn't say much: audio on a PC can be made by many different devices, each one with its own driver, like a microphone, a separate audio card, the embedded audio card on the mainboard, an USB headset, etc.
In this case, the device named "High definition audio" hasn't initialized correctly, because of a problem with its driver, so it has been disabled by GSX and, since you don't have any OTHER device that can play sounds ( do you have an USB headset ? Try to see if you can use that one ), the list of selectable audio devices in GSX is empty, since GSX won't even try to use an audio device that reported an error, because that will *likely* result in a serious crash when the first sound will be played.
You can try installing the latest sound drivers from your mainboard (it looks like this is the embedded audio card) or, if you have them already, you can try *uninstall* them, and use the driver that comes with Windows. Sometimes the dedicated driver is better, sometimes it's best to use the default Windows driver, there's no sure solution, you must just try.