Creating AVIF or HEIC images with transparency does not work with ImageMagick in 22.04

After upgrading to Ubuntu 22.04 I was pleasantly surprised that creating images with the new AVIF or HEIC formats was supported by default.

It's a breeze.

convert image.png image.avifconvert image.png image.heic

Unfortunately transparency is not working; converted to black in both formats.

So, is there any special setting needed to create transparent AVIF or HEIC images with convert?