Gmod 12 not loading?

[racerfan]

After attempting to connect, I am able to get in.

However, there is another problem; the game audio does not work.

You cannot hear anything other than peoples' microphones.

Added - The pictures for props and any F1 pictures do not show for me.

I've heard that the problem seems to vary: Some people just crash when opening the game, some can get in but it has no audio and it stops loading about 2/3 of the way while loading a map (which is what I have), and for others, they can get on and play like normal, but there is no sound. Also, spawnicons seem to be screwing up for everyone as well. I believe that this is caused by a Source Engine update intended mainly for TF2 which also affected GMod.