Drawing transparent lines have small practical benefits, so that OCCT renderer doesn't even consider it. Maybe stipple lines is what you are looking for?
Although there is one trick forcing line transparency using MaskBlend alpha mode, but have no idea if it of any use:
Handle(AIS_Line) aLine = ...;
float anAlpha = 0.3f;
Handle(Prs3d_Drawer) aDrawer = aLine->Attributes();
aDrawer->SetLineAspect(new Prs3d_LineAspect(Quantity_NOC_RED, Aspect_TOL_SOLID, 4.0f));
aDrawer->LineAspect()->Aspect()->SetInteriorColor(Quantity_ColorRGBA(Graphic3d_Vec4(1.0f, 0.0f, 0.0f, anAlpha)));
aDrawer->LineAspect()->Aspect()->SetAlphaMode(Graphic3d_AlphaMode_MaskBlend);
... display line