Since the built-in microphone on your M1 Pro MacBook Pro 14-inch works neither in FaceTime nor Voice Memos, but your AirPods microphone works normally, this suggests a system-level audio input problem rather than an issue with FaceTime alone.
If the problem started after updating to macOS Golden Gate 27.0.1, I would investigate the audio input configuration, third-party audio software, and possible macOS issues before assuming the microphone hardware has failed.
First, go to System Settings >> Sound >> Input and select the MacBook Pro's built-in microphone. Speak and watch the input-level meter. If the meter moves, the microphone is picking up sound, and the issue may involve app permissions or configuration. If the meter remains completely flat, continue with the following troubleshooting steps.
Next, check whether a virtual microphone or third-party audio application could be interfering.
Apps such as Zoom, Microsoft Teams, OBS, and audio-routing utilities can install virtual audio devices. Make sure the built-in microphone is selected rather than a virtual device, quit conferencing apps and audio utilities, and test again.
If you use third-party audio software, check whether an updated version is available for your macOS version.
Also, go to System Settings >> Privacy & Security >> Microphone and make sure FaceTime and any relevant recording apps have permission to access the microphone. Quit and reopen the apps after making changes. Apple's official instructions are available here: If you can’t record audio from an external source on Mac.
To determine whether the problem is limited to particular apps, try recording audio in QuickTime Player or another recording application. You can also consult Apple's Voice Memos User Guide for Mac. If the built-in microphone fails in every application, the problem is less likely to be specific to FaceTime or Voice Memos.
One particularly useful test is to start your Mac in Safe Mode, which can help identify whether software loaded during normal startup is interfering with the microphone.
Because your MacBook Pro has an M1 Pro chip, shut down ( do not use Restart ) the Mac completely, then press and hold the power button until Loading startup options appears. Select your startup disk, usually Macintosh HD, and hold down the Shift key while clicking Continue in Safe Mode.
Once logged in, open System Settings >> Sound >> Input, select the built-in microphone, and check whether the input-level meter responds when you speak. If possible, test Voice Memos as well.
If the microphone works in Safe Mode, a third-party app, audio driver, or startup component may be interfering during normal startup. If it still fails, a third-party startup conflict becomes less likely, although a macOS software issue or hardware fault remains possible. Restart your Mac normally to exit Safe Mode.
Another option is to restart the macOS audio service. If you are comfortable using Terminal, open it and run the command sudo killall coreaudiod.
Enter your Mac login password when prompted; the characters will not appear as you type. macOS should restart the audio service automatically. Then test the built-in microphone again.
You should also check System Settings >> General >> Software Update to see whether a newer macOS update is available. If the microphone stopped working immediately after updating to version 27.0.1, the update may be related, although the timing alone does not confirm that it caused the problem.
If none of these steps helps, create a temporary user account in System Settings and test Voice Memos there. If the microphone works in the new account, the problem may be related to settings, permissions, or audio components in your regular account.
If the built-in microphone still fails in every app, including Safe Mode, and the input-level meter never moves, contact Apple Support and ask them to run diagnostics on the internal microphone and audio hardware. Explain that the problem began after the macOS update and that the AirPods microphone works normally. I would avoid erasing the Mac or reinstalling macOS until these tests are complete.