LaTeX compilers can't find files in texmf-local

[Manuel Boni]

Hello, I installed TeXLive 2020 and I noticed something strange.
I installed a custom .sty file in my texmf-local directory (under
./tex/latex/local/),
then I ran mktexlsr to make it visible to LaTeX, and it seemed to do its
job successfully
(I ran kpsewhich as well, which was able to locate the .sty file).
However, when I try to compile a document that uses that package,
the compiler is unable to find it.
This problem also affects fonts installed in texmf-local/fonts/.
This behavior seems strange to me because TeXLive 2019 did not give me such
problems.
I am using TeXLive 2020 on Windows 10 Pro 1909 64-bit, and I have TeXLive
2019 installed as well.

Best wishes,
Manuel
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