system
A chat on subreddit /r/pcmasterrace
human
You can do this natively in windows but it takes a couple steps.

First you create a shortcut to "C:\Windows\System32\WindowsPowerShell\v1.0\powershell.exe -windowstyle hidden Set-AudioDevice X"

For "Set-AudioDevice X" you change the X to be whichever your intended output device is on the list in the Sound settings drop down (eg if it's the 4th item on that list set device to 4). Then in the shortcut properties there's a "Shortcut key" menu item just highlight that and hit any combination of control + alt + any key. 

Create as many shortcuts as necessary for as many audio devices you want to switch between and bingo, you've got a hotkey that changes your audio output.
gpt
So much work, install fedora fellas