This sound is from NBA Jam Sounds: On Fire Edition

NBA Jam is a basketball video game developed by EA Canada and published by EA Sports. The PS3 and Xbox 360 versions were released as standalone titles in November 2010. The game has a unique visual style, using 3D models with high-resolution photographs for the heads of each of the players.
See also: NBA Jam, NBA Jam (1993 video game), Faith Connors, NBA Hangtime, EA Vancouver, and List of backward-compatible games for Xbox One and Series X/S.