How do I "Draw Transparency" on a Canvas?

Hi. Does this post answer your question? In short, they make the following settings inside the material to make custom alpha values show up on the texture render target:

  1. Set “Blend Mode” to “Masked”.
  2. Check “Use with Editor Compositing”.
  3. Set “Opacity Mask Clip Value” to 0.

Then the alpha can be controlled by the Opacity Mask.