Reddit reviews Digital to Analog Converter, AMANKA Digital Optical Coax to Analog RCA Audio Converter with 3.5 mm Jack, with DC 5V Power Supply Adapter and Optical Cable for PS3 Xbox HD DVD PS4 Home Cinema Systems
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AMANKA Digital to Analog Audio Converter: Converts coaxial or toslink digital PCM audio signals to analog L/R RCA and 3.5mm Jack audio simultaneously ( not capable of being reversed)Input Audio Connector: 1 x Toslink, 1 x RCA (Coaxial); Output Audio Connector: 2 x RCA(R/L), 1 x 3.5mm Jack; Powered by 5.5mm USB Power Cable; Do Not Use Other Plugs, It Can Only Use 5V 1A PlugSupports Sampling Rate at 32KHz, 44.1KHz, 48KHz and 96KHz; 24-bit S/ PDIF Incoming Bit Stream on Left and Right ChannelsSupports Uncompressed 2-channel LPCM or PCM Digital Audio Signal Output; Provides Electromagnetic-noise-free Transmission(5.1 channel is incompatible, please set the audio output to PCM or LPCM）Easy to Install and Simple to Operate; Can be Used for PS3, PS4, Xbox, Blu-ray Player, HD DVD, Home Cinema Systems, AV Amps, Etc.(Note:Please take off the protective caps of the Optical Cable before connecting!!).
Don't those all plug in through HDMI? That doesn't change. Your audio will go from your devices to the tv no problem. Can your speakers accept optical audio? That is the real question. If not, you'll want a 3.5mm to optical converter, maybe like this:
https://www.amazon.com/dp/B07C7VG3YZ/ref=cm_sw_r_em_apa_i_-TrNDb5G97Q3T
You'll plug the optical from your tv into the the input there, and your 3.5mm speakers into the output.
Also, just for reference, the breakout cable is for plugging in older devices, like dvd or an N64 or something. They get combined into that small 3.5mm style plug so that it's more compact than have all 3 giant ports.