Since the latest updates, transparency stopped working on my machine. My GPU is an AMD RX470 with open drivers.
Please post output of qdbus org.kde.KWin /KWin supportInformation
Just in case your issue is the same that I recently had: a recent Plasma update might have reset your Plasma theme to vanilla Breeze. If you were using a community Breeze variant with enhanced transparency, it's possible that you didn't notice that the theme was changed because it looks mostly the same, except for enhanced transparency.
Created attachment 127020 [details] qdbus org.kde.KWin /KWin supportInformation
Ok it works again. Seems plasma auto disabled it because of a crash. It happened without me being notified, or I did not notice the notification.