The Sound Attentuation is not ignored when disabled as audio played from a Blueprint.
Tested in 4.19.2 (CL - 4033788), 4.20.2 (CL - 4302132), 4.21 (CL - 4313833)
Expected: The Audio should be playing.
Result: The Audio cannot be heard.
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-63295 in the post.