Hand is appearing to be transparent but the original file is not transparent.

Could you show the rigging hierarchy for the arm as well? I am interested in the depth of layers. I have not seen one quite like that, but have seen problems when CH gets the relative depth wrong of the different bits of artwork and the artwork wraps around over itself. So each triangle in the mesh might randomly get in front or behind other artwork. I notice also you have a swapset or similar on the arm - the rigging would show that more clearly as well.

I fixed my problem when I hit something close (not the same, just close) by adjusting the layer depths in the puppet artwork. I think I experimented with different groupings and independence as well. I am however scratching my head as your artwork looks like it should be pretty simple. Mine was from Adobe Draw where each pen stroke created a new polygon. So something that looked simple was actually hundreds of shapes. What also helped me was to merge layers in the artwork to simplify it. My artwork then did not have overlapping shapes, so there was no problem with depth going wacky.

You only have one dragger, right? Your wrist dragger. You don't actually have to move that one, although that's typically where wrist draggers go so the hand doesn't accidentally rotate weirdly, but you need to go back to your art and extend the arm so its shoulder properly overlaps with the torso. You're always going to have problems if the art of your limbs doesn't live in the proper spots. It can get tricky, especially when you have outlines, but there are lots of tutorials out there on character design and rigging that cover the challenges and solutions. You can try to remove the Fixed stick and instead put pins at the top and bottom of the current "shoudler," but I still think that's going to cause some problem.

Move your hand dragger to the center of the hand (basically on top of the current anchor point pins). Also, why do you have the Fixed Stick? That's likely what's causing the overlapping mesh issue here. You're preventing those polgygons from moving, so when you bring the wrist to the chest area you get the pinching and overlap.

It's hard to tell what's going on in that screenshot, but it looks like your mesh is overlapping. Can you post a full screenshot of your Puppet panel with this happening, as well as showing the whole Rigging workspace with the hand or arm visible? Something that shows what your pin setup is for that limb.