Player and entity name tags are not rendering in ray tracing graphics mode (RTX)

In the latest 1.21.80 release of Minecraft, player and entity name tags no longer render when ray tracing (RTX) is enabled.
This issue occurs in both single-player and multiplayer worlds.

Steps to Reproduce:

1. Enable ray tracing by using any RTX-capable resource pack (an empty one is attached for convenience, though any RTX resource pack will work as long as you manage to enable ray tracing).

2. Join any of the featured servers, and you’ll immediately notice that player name tags are missing. Check out the evidence video.
   You can also reproduce this issue in single player worlds by giving a entity a name using name tags, you’ll notice the name will not appear when looking at the named entity.

3. Disabling ray tracing or switching to vanilla graphics mode restores the name tags, indicating that the issue is specific to ray tracing.

Expected Results:
Player and entity name tags should continue to display above player/entity heads in ray tracing mode, like other vanilla graphics modes.