How do I make a WinForm Label to be Transparent over a PictureBox?

I am having the toughest time with this. Can anyone send me a short example piece of powershell code that shows how to make athe background of a Winform Label transparent when placed over the top of a picturebox? I have already tried using $lablel.BackColor = ‘Transparent’

No success so far. I even tried adding $label.Parent = $picturebox

No dice…

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