Reproduction steps:
1. Open the attached “IN-96982.zip” project
2. Open the “SampleScene”
3. Select the “PC_Renderer” from the Project Window (Assets > Settings)
4. In the Inspector find the “Render Thermal” Component
5. Under the Overrides tab in the Shader property make sure “SimpleThermalRenderStateCommands” Shader is selected
6. Observe the Game view

Expected result: GameObjects behind the Stencil have a gray tint
Actual result: GameObjects behind the Stencil become invisible

Reproducible with: 6000.0.44f1, 6000.1.0b12, 6000.2.0a7
Couldn’t test with: 2022.3.60f1 (The Shaders did not work)

Reproducible on: Windows 11
Not reproducible on: no other environment tested

Notes:
- Stencil GameObject is added as a child of the Main Camera GameObject
- Selecting “SimpleThermal” Shader shows the expected result
- Clicking on the “SimpleThermalRenderStateCommands” Shader through the Project Window appears to fix the issue, but closing and re-opening the project makes the issue reproduce again
- The stencil becomes invisible due to the material properties being set to 0 which can be confirmed in the Frame Debugger, where the Color and Alpha are being set to 0