Good in theory, but this will probably be executed poorly - not working when it needs to and working when it doesn’t need to. Roblox for instance also has had very big issues with moderation, and even shut down their forums because they couldn’t handle it. (See People Make Games’ videos on them: Roblox Pressured Us to Delete Our Video. So We Dug Deeper.)
“If you aren’t doing anything wrong, then you have nothing to worry about” is a mindset I typically disagree with, but let’s be honest: people who do get super pissed about the idea of moderating game chats are usually people who are just mad they aren’t allowed to call people slurs over voice chat like they were able to in 2009 and cope on Reddit about how “Niger is a real country and I totally wasn’t using it to substitute a racial slur! Why was I banned?!”
I dont expect any privacy or confidentiality for in-game chats. They are notoriously toxic cesspools, moderating them makes total sense and I do not see as an “attack on free speech.”
I generally just disable them all anyway to avoid any trouble though.
The real privacy/security concern for me is potential IP leak risks if the voice chats use WebRTC or something similar. I know GTA Online would have a big issue with losers DDOSing and booting players because the game would keep leaking players’ IP addresses. I don’t know if it’s the case now, but I doubt Rockstar has bothered to fix it.