My brother-in-law has an Apple TV4 and when I asked him a few days ago if he's having the same 'mono' issue as you, he said no, he's getting stereo!
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I'm having a similar issue here.
Apple TV 32gb (newest model), latest software
The issue isn't with the TV or anything else in the setup - everything else is coming out in stereo.
Issue persists when I'm streaming audio to an airplay device.
Don't have the same issue with the stream on the iPhone app but it won't let me stream airplay.
I've mainly got NowTV to watch Game of Thrones and currently I'm getting better audio streaming off a dodgy site.
Welcome to the forum. That shouldn't be happening in the ATV app, you should receive stereo (5.1 isn't supported). Is it just GoT or the same with other content. Try restarting the ATV and/or removing the app then adding again to see if that helps.