Subtitles Not Working on Mac

There might be some news in my post over here.

From my experience, SRT subs embedded as a track in my video will play well using the same setup as yours (1.2.0.875) via Direct Play.

I tend not to bother with external subs, or online subs.

If SRTs aren’t even playing for you as I described, let us know.

If so, can you spell out a reproducible example of steps and what you see in that case?
Maybe logs too if it refuses to play SRTs that are a track in your video.
In that case, when playing a video and you click at the bottom of the screen the Settings > Subtitles, do you at least see the Subtitles drop down? Was it set to None?