Image Alpha (Transparent) Displays as Black

Hello SW Community!

I am trying to use images of an object to allow me to trace and replicate the contours in Solidworks. I have several images that I have taken and I have used image editing software to erase portions of the images that are not of interest, resulting in a clear "alpha" portion of the image remaining.

When I try to load those images into sketches (tools>sketch tools>sketch picture) the image shows up with the object, but everything I erased shows up as black/opaque imagery instead of clear/transparent. I have tried both PNG and BMP, with the latter not loading for some reason.

There may have been an answer elsewhere on this forum from a year ago here, but the answers appear to have been deleted or lost somehow.

Is there a setting or a workaround for allowing the images to have the transparency display as transparent? Or is this not a feature in Solidworks?