Yes, I get the same results with a small test project. Here is a link to it on my iCloud Drive. Let me know if there is a better way to share it. https://www.icloud.com/iclouddrive/0a2H67-ZW1wkTPEnv_kbVk_yQ#AirPlayTest STEPS TO REPRODUCE I don't know if audio needs to be playing or not at the time of selecting AirPlay so you can either press play or not on my test app which has a very simple audio file I recorded. If you activate a Bluetooth speaker and you click on the airplay icon, it will allow you to select the Bluetooth speaker and stream to it without any issue. I've tested that. If you click on the airplay icon and attempt to connect to a standard airplay device like a HomePod, it will spin indefinitely for a minute or two and then stop spinning, but will never connect.

I'm experiencing the same issue on a 16" MacBook Pro.