Macros are always disabled when imported into the Keyboard Maestro Editor.
The user must ensure the macro is enabled.
The user must also ensure the macro's parent macro-group is enabled.
System Information
macOS 13.3.1 (22E772610a)
Keyboard Maestro v10.2
If the two macros work individually, you could assign a hot key for each or if you assign the same hot key you will see a Keyboard Maestro Conflict Palette and be able to select from the palette.
Previously you mentioned that you liked the idea of toggling between sound settings. If you'd like to do that with your two combinations of Output/Input, you could use this macro.
If you want to set a sound output to an explicit device, then run Set Sound Output from the Keyboard Maestro Editor. Do this for each of your devices. For more information, see the description above the download link or the comments within the macro.
If you want to also be able to toggle between two devices (as you mentioned), then download and install: Toggle Sound Output
Refer to the Toggle Sound Output header comment. You'll see that you'll need to enter the name of both output devices.
Feel free to follow-up with addition questions, @okn.