If you suspect an issue with the Ultimate Talkie Editions, you should check if Indy 4 talkie (or its self running demo) has the same issue. Then, it is most likely a problem with the executable and the sound drivers coming with it.
The Adlib music issue is usually a too fast PC. This also can lead to hanging notes on midi devices. So disabling CPU cache is always a good idea for old LucasArts adventures.
I have a similar DOS PC (Pentium 200mmx with a VIA chipset and Award BIOS) and encountered those issues occasionally, but never found a fix that worked every time, unfortunately. I don't have a PS/2 mouse but a serial mouse connected to it (like you usually do on AT boards), so it can't be just that. I found, when I run the game from within Windows 95, then it runs fine most of the time. Sometimes, I get crackling speech, but no game hanging like in pure DOS.
Maybe the game doesn't like some drivers (probably mouse and/or sound). It should be possible to play through it, as I tested it successfully on that PC along with others.