It depends on who you're trying to defend from.
If the audio is going to be broadcast to "all other clients", there might not be a reason to encrypt it when it's on the server. However, if there are separate lobbies where only a small group of friends would chat, then it might be worth it.
In the modern age, you would almost certainly be using HTTPS (there are certain features you won't be able to use otherwise). HTTPS will ensure that anybody listening on the wire between the player and your server cannot see the contents.
What's stopping a random player from listening in to all the conversations? If the answer is "nothing" -- i.e. all the players are in the same voice chat -- then there's not much to be gained from encryption: you use encryption to limit the range of people who have access to some information, and if "everyone" is supposed to have access, then there's no need to do it.
However, if there are separate lobbies, such that all players within one lobby can talk to each other but not between lobbies -- then encryption should be used to make sure that even if someone pwns your server (and can record everything that's sent to it), they wouldn't be able to record the voice chat. This is called "end-to-end encryption": the message is encrypted by the sender, and it doesn't get decrypted to plaintext until it reaches the receiver.
You would need to figure out a way for the different clients to agree on a shared secret, while the server (which we do not trust to not leak data) doesn't know what it is. A very popular protocol is Diffie-Hellman key exchange: this allows two people to generate a shared secret, while communicating over an insecure channel (this video explains how it works). Since you might want more than two people in a lobby, you would need to perform this across multiple parties: this Crypto.SE post has some ideas for how to do it.