I don't have a fancy leaves-option in the settings. But when you look at the other screenshot, there are jungle leaves which are not see-through. Then next to the jungle leaves there are Oak leaves which are see-through. You can only see through the Oak leaves, when the function fancy leaves is turned on. So why are the jungle leaves not see-through too? Bring back the fancy leaves option to Smartphones. I play on a Xiaomi 12T which has 8GB RAM. The fancy leaves option should not cause any problems on this device.
The issue with jungle leaves not being transparent is tracked at MCPE-16505. It will be fixed in the 1.21.90 update. The Fancy Leaves option missing on mobile devices is not a bug, see MCPE-184012.