I assume you have already swapped the In and Out cables left-to-right to see if the symptom will follow. Internally, the EQ routes everything through every one of it's controls. Having all those sliders in the loop gives you a lot of opportunity for oxidized contacts. With a program playing through it at a medium level try exercising each control (one at a time) through its range to see (hear) if it makes a positive difference. Do that for each slider. Unused physical controls tend to glom up in time.
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