I can confirm that the sound vanishes - I think Niko caused it. Watch the pit exit at 24:45, on top of the bridge the where the left corner down to the exit ramp starts; Niko crashes and flies off into the trees. His car hangs there for a second before the sound cuts out at the exact moment where he respawns onto the track. If you watch him directly (first person/follow view, not shift+u), then the sound bugs out even more and the camera doesn't respawn at all.