It looks like my skylight is what is causing it to look like this. When I disable it the glass doesn’t look opaque. And for a better test I checked Lower Hemisphere is Black and that gives this.
If there is a difference now in the skylight from what it was in 4.11 vs 4.12.5 please post that as a new question so it can be assigned and addressed. Having multiple issues in a single thread is not ideal. The original issue that was reported here has already been resolved.