The bug:
Translucent particles behind other translucent particles render incorrectly even on fabulous graphics.

Reproduce:

1. Set your graphics to "Fabulous!"
2. Place down as Always Active Repeating Command Block
3. Paste this command into it:

   particle minecraft:campfire_cosy_smoke ~ ~ ~ 1 1 1 0 10 force
   

4. Wait a bit
   → The particles render incorrectly

Note:
The attached screenshots may be able to help.