Bought a brand new pair of Shimano RS330s. The rear is making a noise every rotation a bit like a proper deep section rim i.e."womp womp". It doesn't sound gritty, the wheel spins completely freely and there's no play in the hub. I think it's coming from the hub, although the sound reverberates up to the rim. So far I've tried:
Checked nothing's rubbing
Tried it without the tire
Inspected the rim for objects etc
Checked no spokes are loose.
Checked for play in bearings
Tried backing off the cone slightly in case bearing was too loaded
Tried doing the quick release up very lightly
Could anything else be causing the noise or am I going to have to inspect and potentially overhaul the bearings on a brand new wheel?