There is a cool vid on YouTube by the blizzard programmers responsible for the audio priority engine in Overwatch.
They are doing it primarily for game play reasons. i.e. priority and attenuation of audio for dangerous enemies close by. Almost total muting of audio that does not convey important information to the player. etc But the same can apply for performance or interference / distortion reasons.
If I recall they have a number of tags on each audio object , all the sounds are queued into the audio engine. the audio priority engine then decides on a player by player basis what are the most important sounds for that player and then the respective triggers and other data are sent to the client.
Im sure we could so something similar on a smaller basis for our games.
i.e. give all the sounds a priority number, que the sounds then play / attenuate only the 4-8 sounds with the highest priority at that time for the player. I will probably try something along these lines.