I've read claims, saying a twisted pair (inside a shield) would help 'isolate' the pair against lower frequency cross-talk, while shield is more effective at blocking higher frequencies. I would (guesstimate) that means 200 hz cross-talk is better reduced by twisted pair, while 3000 hz electrical noise is better reduced by the shield, and so the combo gives all-around block.
That could apply, somewhat, like mentioned above, to something like having six twisted pairs, all inside a single outer ground shield. That would be your local phone company, using those 3/4 inch diameter weather resistant multi-line cable.
I've seen, (owned) a jumbo thick cable having 14 pairs, each with individual shields, PLUS that jumbo outer ground shield, and thick thick vinyl jacketing.
Audio stuff generally I'd only ground a shield, at input end (guitar pedal), but that's with return path normally via the 'grounded' wire in each twisted pair.
NOT ANALOG EXPERT, however. Thankyou