I had a similar clipping noise in an Ensoniq EPS-16 a while ago and turned out to be a shorted tantalum near the DAC.
It wasn't a complete short but had very low resistance; it had no apparent visual damage.
I believe it was on the -15V rail.
Check all tantalums for any shorts, it may be obvious but shouldn't hurt to rule this out.
Ensoniq SD-1 32 Clipping Noise
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