I think top-rated status, coupled with a good profile & portfolio, probably still does help.
But what seems to matter more on Upwork (e.g. for appearing in the algo & generating invites) is activity.
Being logged in, having active conversations, billing & earning, submitting bids, boosting your profile, (maybe) being available for consultations.
All of this seems to suggest “open for business” to the Upwork algo.
Whenever I go quiet on Upwork, the direct messages & invites all cease up. As soon as I am active, bidding, chatting, being online, actively billing… the messages and invites come through.
I think I am saying you do not have to give up. Take heart. Your Top-Rated status is not the be-all-and-end-all in modern Upwork.