ColorPalette: Using 'transparent' as color value produces unexpected preview background

[danielbachhuber]

Description

When I pass 'transparent' as a potential color to ColorPalette, it unexpectedly shows a white background:

I would expect the background to be representative of the color, similar to other colors:

Related #42170

Step-by-step reproduction instructions

<PanelColorSettings
	title={ __( 'Color Settings' ) }
	colorSettings={ [
		{
			label: __( 'Background Color' ),
			colors: [
				{
					name: __( 'Dark Gray' ),
					slug: 'dark-gray',
					color: '#111',
				}
				{
					name: __( 'Transparent' ),
					slug: 'transparent',
					color: 'transparent',
				}
			],
		},
	] }
/>

Screenshots, screen recording, code snippet

No response

Environment info

No response

Please confirm that you have searched existing issues in the repo.

Yes

Please confirm that you have tested with all plugins deactivated except Gutenberg.

Yes