The bottommost part has priority working upwards through the part list.
The lowest part will print everything, the next one up will print those parts not obscured by the one(s) below. This continues right to the top part.
You parts need to be designed so their overlaps do actually overlap.
If you wish to see some yellow behind the translucent part, the translucent part must be thinner than the yellow part so the overlap has some printable area.
Note, I can’t tell of this is meant to design at the top or design at the bottom.
If the beer mug is the topmost, reverse everything I said above.
Beer mug top facing
brown
yellow
translucent
Beer mug bottom facing
translucent
Yellow
Brown
The slicer isn’t trying to optimise anything, it just tries to use the order of your parts believing you chose the priority for overlapping model parts.
If two parts share the same space (overlapping) the order of parts determines which will be printed.
Absolutely, this is a kind of challenge coin for our Pickleball club. I will provide final results after I figure out how to swap out colors during the print process, limited by only one AMS.