I don't know pinball machines, but that sounds like either a bad capacitor or transistor / IC audio chip.
With a bad capacitor or transistor, the sound might crackle as it fades out, and with a bad transistor or IC audio chip you might hear crackle and a quiet humming or buzzing sound from the speakers after the sound dies out.
If you suddenly hear a loud humming or buzzing, turn off the machine IMMEDIATELY to prevent further damage.
You might get lucky and it's only a dirty potentiometer.
That would be the manual volume control if it has one.
If it uses a manual volume control, try opening the coin door and turning it up and down several times to see if the sound pops back in and if it does, then turn the machine off and use a potentiometer cleaner on the control, spraying it to get the cleaner inside of the control can and turning the control back and forth to loosen any dirt, but don't leave the machine on for too long if it isn't the control at fault because you don't want to burn out the whole board and it might burn out if there is a bad capacitor, diode or transistor/IC chip.
Btw, I love that machine.