Ensure visibility is applied when initialized as False

[philippjfr]

Fixes #5354

[codecov]

Codecov Report

Merging #5508 (fc593cb) into main (65d0a5b) will increase coverage by 11.01%.
The diff coverage is 100.00%.

@@             Coverage Diff             @@
##             main    #5508       +/-   ##
===========================================
+ Coverage   72.56%   83.57%   +11.01%     
===========================================
  Files         276      276               
  Lines       40152    40162       +10     
===========================================
+ Hits        29136    33567     +4431     
+ Misses      11016     6595     -4421     

Flag	Coverage Δ
ui-tests	41.40% <100.00%> (?)
unitexamples-tests	72.46% <10.00%> (-0.11%)	⬇️

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Files Changed	Coverage Δ
panel/tests/ui/pane/test_markup.py	100.00% <100.00%> (+72.00%)	⬆️

... and 72 files with indirect coverage changes

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