When creating an initrd with dracut --host-only and plymouth, the default theme is not applied correctly in the package. '/usr/lib/dracut/modules.d/50plymouth/plymouth-populate-initrd.sh' searches for the default theme and copies the specific files into the initrd packages but forgets to copy/create '/etc/plymouth/plymouthd.conf' with the theme information. This causes the 'text' theme is used during boot - guess due the encrypted root partition '/etc/plymouth/plymouthd.conf' can't be read from there.
Created attachment 466366 [details] emerge --info
This works fine in 0.45 for me with encrypted root+swap. Could you confirm this version fixes it for you ?