I recently installed SW2020, SP3, and now all my transparent parts are only rendering in wireframe. If it had transparency built into the part, if I change a part to transparent, if the assembly goes transparent when I edit a part, it doesn't matter. If there is any transparency in a part, it renders as a wireframe part, with no alpha at all. 0 transparency is fully opaque, 0.01 thru 1 transparency is fully wireframe.
I copied the settings off another fresh install that was working properly, and after loading the settings it's still an issue. Is it a graphics driver issue of some kind? I've got no idea.