The newer versions of Windows 10 seems to break the Gamma Slider in EQ. The slider in EQ simply does nothing with the 1903 / 09 versions. The old version of Windows 10, Version 1803 works fine and I've reverted back to that for the time being. However, that version has reached its end of life and will no longer receive any type of security updates. I really don't know if this is a Windows issue or some type of EverQuest bug, but it needs fixing in order to maintain proper support for current versions of Windows.
Oddly, and I don't mean to imply others are not having this issue, when I upgraded to Win 10 1903 it did not break my gamma in-game. Weird, and bothersome, issue to be sure and I wonder if the cause isn't solely Win 10 but has some other component to it.
Playing in a window? If so, in the advance display options, make sure you have enable windowed gamma checked. For the sound I don't know, mine works.
If you're playing in windowed mode then it's probably the same as this: https://forums.daybreakgames.com/eq/index.php?threads/gamma-does-nothing-in-windowed-mode.261037/ Make sure you have windowed gamma checked, he does mention the settings not working until he closed and reopened the game.