No sound when Peppymeter Screensaver plugin is enabled

After setting up Volumio v3.378 on my rpi4 one of the first things I wanted to try was getting Peppymeter running on it.

After finding and following instructions on how to do it I was able to install Peppymeter v1.3.0. However as soon as I enable the plugin I lose audio. Everything else seems to work although the meters display no activity because there is no sound.
I’m using a IQaudio DAC Pro. Changing the Alsa configuration from Modular alsa to DSD native doesn’t fix it.

Any suggestions as to what the problem could be or how I could isolate it?

Please use peppymeter related thread.