SUMMARY
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I have the panel set to autohide but it doesn't work right in that the panel unhides every time another window gets the focus and remains unhidden until I move the mouse pointer over the panel to make it "automatically" hide.  Effectively, I have to "autohide" panel manually.
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STEPS TO REPRODUCE
1. in settings, set Window Management-->Window Behaviour-->Window activation policy to Focus follows mouse (mouse precedence)
2. set the panel to autohide (and optionally move it to the top of the display instead of having it at the bottom)
3. wait for the panel to automatically hide, or move the mouse pointer over the panel to hide it
4. move the mouse pointer to a different window and it unhides itself

OBSERVED RESULT
The panel unhides like all the time and I have to keep moving the mouse pointer over the panel to unhide it every time when I want to use a titlebar or a menu of a window (or whatever else) that gets covered by the panel :(

This is the opposite of what "autohide" is supposed to do:  It auto-unhides and doesn't hide itself automatically.

EXPECTED RESULT
The panel is supposed to automatically hide and to remain hidden when not in use.

SOFTWARE/OS VERSIONS

Operating System: Fedora Linux 39
KDE Plasma Version: 5.27.10
KDE Frameworks Version: 5.115.0
Qt Version: 5.15.12
Kernel Version: 6.7.5-200.fc39.x86_64 (64-bit)
Graphics Platform: X11
Processors: 16 × Intel® Xeon® CPU E5-2637 v4 @ 3.50GHz
Memory: 125.6 GiB of RAM
Graphics Processor: NVIDIA GeForce GTX 1080 Ti/PCIe/SSE2
Manufacturer: Dell Inc.
Product Name: Precision Rack 7910

ADDITIONAL INFORMATION:

It seems to work better in a Wayland session, but KDE with Wayland still needs to come a long way before it has matured enough to be used.  I really wanted Wayland but there are way too many issues, so I had to go back to X11.