Still no displacements are showing.
But , found a solution to at least get Nanite working thanks to his post: [UE5] Nanite bugged in new version of UE5? - #13 by PeteDimitrov
My rendering was set to SM5. After switching to SM6 (M2+), Nanite seems to be working without displacement.
Metal 3.0+ doesn’t work great at all - meshes are not rendering, nor Nanite.