Since the 20.03 release most of the event rules are evaluated in the streaming data platform. The tag collects the basic information - in your case the click event - and then rules are applied server side. To understand why this is not working you need to look at 2 things side-by-side.
Check your click event in the browser and all the attributes it collects. You can do that via the event inspector. Personally I prefer the network tab of the browser's developer tools and look at the payload of the POST request that sends the click event.
And then you need to look at your custom event configuration and see if the conditions match the values that are getting collected.
If you can share a screenshot of both I can take a look and see if there is anything amiss.
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