Hmmm... I do have audio coming out of a guest VM under proxmox, but I'm passing through a whole GPU which includes audio through its HDMI.
The on-board audio might not be in an iommu group that can be passed without breaking something else, which would likely prevent booting the host correctly.
Honestly, I think I'd just go with a USB dongle for the audio. Easier to passthrough, likely better audio quality too and shouldn't be too expensive.
You can pass either a USB device id or a port (or group of ports, depending on how it's grouped)