If $A^4$ has an eigenvalue $\mu$, prove $A$ has an eigenvalue $\lambda$ with $\lambda^4=\mu$ ?
Is the following sound:
Let $\chi_{A}(t)$ by the characteristic polynomial of $A$. Then $\chi_{A^2}(t^2) = \chi_{A}(t)\chi_{A}(-t)$.
We know \begin{align} 0 &=\chi_{A^4}(\mu) \\ &=\chi_{A^2}(\sqrt{\mu})\chi_{A^2}(-\sqrt{\mu}) \\ &=\chi_{A}({\mu}^\frac{1}{4})\chi_{A}(-{\mu}^\frac{1}{4})\chi_{A}((-\sqrt{\mu})^\frac{1}{2})\chi_{A}(-(-\sqrt{\mu})^\frac{1}{2})\\ \end{align}
At least one of these must be equal to zero, from which the result follows?
Your argument is correct and is based on the Theorem that $\det(A B)=\det(A)\det(B)$.
You could write it out like this: \begin{equation} \chi_{A^4}(\mu)=\det(A^4-\mu \operatorname{Id}) = \det(A^2-\sqrt\mu \operatorname{Id}) \cdot \det(A^2+\sqrt\mu \operatorname{Id}) = \dots \end{equation}
In the end it indeed follows that at least one of the fourth square roots of $\mu$ is an eigenvalue of $A$.