No, it is 44.1 kHz. If you look at the DAC chip specs, you see almost all of them target 24 kHz bandwidth for 44.1 kHz sampling. This allows them to use a more gentle filter.
Aliasing is not a huge issue here since music content doesn't have a lot of amplitude above 20 kHz so not much reflects back.
Is it a compromise to reduce ringing to keep audiophiles happy?