Do podcast transcripts enhance SEO?

Many podcast transcripts are uploaded to podcast websites with the belief that they benefit search engine optimization.
But is this true? Carl Robinson, founder of Tizz Tech and host of the Voice Tech podcast, has used and then removed transcripts, and saw no difference in traffic figures. I had a similar experience.
The issue could come down to the quality of transcriptions generated by platforms such as Otter and Descript. They need improvement - a human has to remove errors while adding speaker names, subheads, and pull-out quotes.
Paying someone to do the work adds a cost for independent podcasters, who often podcast without a budget.
However, there is a reason to add transcripts or closed captions to episodes - for the hard of hearing. A recent class action lawsuit against Gimlet Media has brought this issue back into focus.
In the complaint, filed last week in New York, plaintiff Kahlimah Jones argues that Gimlet violates the Americans with Disabilities Act (ADA) by failing to provide closed captioning on various podcasts.
In this episode we explore the use of transcripts, and whether every podcaster should include them with their episodes.
Carl Robinson's agency is Tizz Tech, and his Voice Tech Podcast is here: https://voicetechpodcast.com/. And you can find him on LinkedIn and Twitter.