can confirm in 1.21.4 and 25w03a.
This bug causes a disappointing side effect with a resource pack I'm creating: I wanted to use custom models with planes that cull away to mimic the appearance of connected textures in vanilla , but since leaves wont cull with fast graphics, it doesn't work.
The left tree is a normal oak tree grown from a sapling, with a custom block model on the leaves to create the ctm effect. the right tree is a replica of the left, with lime wool instead of leaves, using the exact same block model json file as the oak leaves. the wool culls properly, while the leaves do not.
Can confirm in 25w41a, which separates the relevant graphic setting into a dedicated “See-Through Leaves” toggle. It should be noted that the toggle has a hover tooltip that reads “Disabling may improve performance.” which is untrue as long as this bug is unfixed.