As title says, component "minecraft:render_offsets" doesn't work after 1.21.20 update, which worked perfectly before the update.
↓In-game (1.21.20)

↓ .json file (It's purpose is to make an item invisible)

This should result in making item invisible when it's working properly...
This all worked finely before the update, and I couldn't be happier if this bug gets fixed ASAP.