Not sure if this is a bug or by design, personally it doesn’t seem correct.
In the attached layout there are two blocks in a group wrapper displayed by Tag colour. The group wrapper is assigned the default untagged material / colour. If I render in Raster or Hybrid I see what I expect e.g. the blocks are coloured as per their tags. If I switch to Vector view the colours switch to default.
It doesn’t appear to be impacted by the new rendering engine.
Is there possibly something I am doing wrong with the untagged colour value?
I prefer using Vector format as it keeps published file sizes to a minimum when texture isn’t required.
2024 Tag Test.layout (156.3 KB)
alas, it’s a known bug . colour by tag + vector in layout will give you the colour of the default tag.
It was noticed straight away, so there is a good chance that wee see it fixed in the next update.
as to when… well someday 
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I just discovered this is a problem for my work flow as well.
I use color by tags to create construction drawings versus color by material to create renderings.
In doing a deep dive, it seems that the color by tags fails in Layout Vector rendering for groups and components. It still works for faces.
Also, I noticed that everything seems fine with Hybrid, so a temporary solution if you want color by tags and vector line work is to go with Hybrid until the issue is resolved.
In Hybrid, you do lose fine detail if you are relying on the face versus lines. The lines will render as vector, but faces will render as raster.
Looks like the issues has been fixed in the latest Version 24.0.553
Thank you Sketchup/Layout Team for resolving this! Now my workflow should be able to take advantage of the improvements of SU’24 