Yes - I was able to correct this by moving the file: CARPA31Tignition from > Program Files (x86) > Lockheed Martin > Prepar3D > Sound > Carenado > CarSoundPA31T to Lockheed Martin > Prepar3D v3 > SimObjects > Airplanes > Carenado PA31T_Cheyenne_II > sound.
However,
This plane is very buggy, with reduced framerate, what seem like arbitrary engine failure(s), other sound problems, and numerous other gremlins. I hope Carenado comes out with an update soon.