Audition reducing noise as default. How do I turn it off?

I JUST imported a voiceover track into a new project and haven't applied any effects other than a click remover. When I push play anywhere in the project, I get a few seconds of normal static noise with the voiceover, then the noise goes away. I hit pause, then play again, and the noise is back for a few seconds, before fading away again. This happens anywhere I click in the timeline. It seems Audition is running an adaptive noise filter (apologies if that's not the right term, but I hope that makes sense) as a default setting, with no way to turn it off. 

My best guess is something went wrong with the most recent update, but before I reinstall an older version, does anyone else know what this could be or if I can fix it? Is this happening to anyone else? 

Thanks!