Is there a way to mute other in game audio except for fishing. Id prefer not to listen to a waterfall while chilling
Maybe, try turning down ambience. I believe that is separate from your fishing bobber.
There is an addon called Fishing Buddy that has an option to “Enhance Fishing Sounds” that may be along the lines you are looking for.
/moo 
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There’s an add-on called Mute Annoying WoW Sounds that you can find on curseforge. One of the default settings is muting ambient noises such as city clock sounds, ethereal vendor hubs, waterfalls, rivers, beaches, fires and fireworks etc. So you can mute all other sounds in game, leave the ambient noise up, and then use the add-on to mute other ambient noise you don’t want to hear.