We are using Wwise version 2021.1.3.7665.2079. The UE4 uses the same version.
In our latest projects, we want to use +- 50 channels. The default configuration in Wwise seems to allow only up to 32 channels. To do the change, we add a new configuration in the ASIO.xml plugin configuration (Found in the wwise installation folder such as C:\Program Files\AudioKinetic\...) file named Anonymous 64, with 64 channels. In the Wwise Authoring Tool, we set our channel configuration in our master bus to this new Anonymous 64 configuration and everything works properly.
When using the Unreal Engine 4 Wwise plugin however, we generate the sound bank and try to play the sounds and the channels above 32 do not work. In the GameDefault.init file, in the wwise configuration section, we can change the MainOutputSettings to NumberOfChannels=64 (or set it in the Unreal Project Settings) but the result do not change.
Last interesting bit, when connecting the WAT to our Unreal project, whether in packaged mode or editor mode, the channel above 32 starts working properly.