After exporting Power BI report to PowerPoint (via Export > PowerPoint > Embed live data), set the embedded object to "Show as Saved Image", save the pptx file, then open back in the browser, the embedded Power BI object remains live regardless of how it was configured on the desktop app.
In addition, the embedded Power BI object persists to be on top in the Z-order ignoring the configuration made on the desktop app when opened in the browser.
Please make it so that the "Show as Saved Image" setting and Z-order configuration are respected in the PowerPoint Online.
How pptx was configured in Desktop app
How pptx appears online
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As far as I know, export to ppt with embed live data only affects PowerPoint cause that it has been exported to on-premise, this feature is used to remain data static to make it into an image, see:
Tell a story with your data. Announcing the all-new Power BI integration for PowerPoint.
Best Regards,
Community Support Team _ Yingjie Li