I've been encountering this issue with volume balancing too and after some investigation made some interesting observations:
The sound of punching wood right in your face is almost twice as loud as standing inside TNT when it explodes. The sound of ultimately breaking the wood while punching it is VERY quiet.
The 3D position of the sound effect of breaking a block is coming from the CORNER of the block, not the centre. I'm not sure exactly which corner, but it's the same corner for every block, likely a 0,0 coordinate of some kind.
This is not a surround sound issue. I did a bunch of testing and the volume balance does not change based on surround settings or speaker positioning, it's definitely specific sound effects misbehaving and it seems to primarily be effects which were non-3D positional in Java which have been made 3D positional in Bedrock.
Hopefully that helps narrow down what the issues are so they can get fixed!
I've been encountering this issue with volume balancing too and after some investigation made some interesting observations:
Hopefully that helps narrow down what the issues are so they can get fixed!