Nametags are displayed trough player arm and trough items in ray-traced graphics mode

How to reproduce:
1. Enable ray-traced graphics mode and join multiplayer world.
2. Rotate the camera until you get the angle so you can see the issue.
What happens:
Nametags are displayed trough player arm in ray-traced graphics mode. This doesn’t happen in fancy graphics mode, so this is a bug.
What I expect to happen:
Once nametag is behind player’s arm, it should not display over the arm, but behind it. The parts that should be invisible should become invisible.

The problem is that in fancy graphics mode, player arm is basicaly the ui element, which gets disabled in ray traced graphics mode and replaced with an actual 3d object. Nametags are not raytraced, so they are rendered over ray tracing result and they are not optimizied for the model in ray-tracing graphics mode.