I have After Effect CC version 13.5.1.48. Not sure if this is still a bug in the latest version, but when I toggle the Mask and Shape Path Visibility to ON, then try clicking it OFF, the paths don’t hide. Except, when I use the shortcut Command+Shift+H (Mac OS), it works for both ON and OFF.
I guess I’ll try updating and see if adobe has fixed this issue. Or I can just remember the shortcut keys 🙂