Versions 2.4.4 and earlier are not compatible with macOS 13.0 Ventura. Due to a bug in this OS release, the display of the transcript is corrupted with gaps between speaker ranges and some speaker ranges will be clipped so the transcript is not visible.
A new version 2.5.2 update has now been released for direct download or automatic update and fixes the issue. It is also available on the Mac App Store for users who have installed from there.