I found the issue.
It’s something related to layerDepth handling that changed between MG 3.2 and MG 3.4.
If I set the layerDepth to zero I can see the sprites fighting, but I least now I know they are being drawn.
spriteBatch.Draw (Texture2D texture,
Rectangle destinationRectangle,
Rectangle? sourceRectangle,
Color color,
float rotation,
Vector2 origin,
SpriteEffects effects,
float layerDepth)