The Mac Studio has an audio output that adjusts its RMS voltage depending on the impedance of the connected headphones. Two levels are possible: 1.25 and 3 volts.
This allows the 3.5 mm jack output to do the same tricks Apple introduced with the MacBook Pro which we pointed out to you here. This should please those who use high-quality wired headphones on the Mac and hope for an optimal control of their audio equipment.
However, there is no optical Toslink output on the Mac Studio. This has disappeared from Macs with the introduction of the 2016 MacBook Pros from Apple devices.