I have a basement which I want to soundproof using drywall but I have a problem with some pipes in the ceiling that run around the corners. I want to maximize the space in the room after soundproofing so I wanted to know if it is possible to do something like this. (please see image, the circles are the pipes in the corners)
You could build a soffit out of 2x4s (or 2x2s) and screws. Once it is complete, you can wrap it in drywall like any other wall. The boards that touch the external wall may need to by pressure treated (check your local codes).