I'm having the same issue. Upgraded from an iPhone 15 Pro to an iPhone 18 Pro on Verizon, and I never had any call quality issues with my 15 Pro. Now, most of my calls sound muffled, like a bad, narrowband landline call. FaceTime Audio with the same people is crystal clear, so it doesn't seem to be a microphone or speaker issue.
I've talked to Verizon multiple times. They first did a network refresh, then gave me a new eSIM. Both seemed to fix the problem temporarily, but the muffled call quality returned about a day later. I've also reset network settings and toggled Wi-Fi Calling, 5G Standalone, and Voice over 5G Standalone on and off.
Apple escalated my case, and I submitted a bug report through apple.com/feedback. Verizon also offered me a replacement phone, which I eventually accepted. The first day with the replacement, calls were crystal clear. By the next day, the muffled audio was back.
Interestingly, doing a hard reset seems to restore clear call quality, but the problem eventually returns. I'm wondering if it might be related to connecting to Bluetooth or Apple CarPlay, although I haven't confirmed that yet.
At this point, I'm wondering if this is a software issue that Apple can fix with an update. It's incredibly frustrating to buy a new, premium, expensive phone and not have basic functionality like making a clear phone call.
Has anyone else experienced this, and has anyone found a lasting fix?