Steps to Produce:
1. Open a ray-tracing capable world or create and enter a world with a ray tracing resource pack and turn ray tracing on.

2. Build the structure required to activate a Conduit underwater.

3. Turn ray tracing on and off while closely observing the conduit.

Observed Results:
Conduit Wind doesn't ever appear with ray tracing, while it still appears without ray tracing.

Expected Results: 
Conduit wind animation should be displayed with ray tracing like it is in vanilla game.

Additional Notes:

Texture pack used ** in the images is Vanilla RTX, however you can use any other texture pack such as the one I've attached below:
"Empty-RT-Capable-RP.mcpack" which is an RT capable RP that uses only vanilla game's files without any alternations, which is suitable for testing for bugs.

This is likely ** another instance of game-wide issue with ray tracing where certain entity or block materials and render methods combined with UV animation can not function with ray tracing turned on.