I think that with update 2.8.0 they changed it, and now it doesn't drop anymore as part of Secret Victories
"Emblem Variants
Emblem Variants have been converted into their own Emblem items"
English
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Correct. The only problem is, now Secret Victories now has no confirmed drop source. Most say it now drops from completing all 6 Ascendant Challenges. It would be nice to have some info from Bungie on the matter.
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But come to think of it, it's obvious that Secret Victories didn't drop for me because I already got it through Drink at the Well (when it still dropped, before update 2.8.0). Uhm... don't know.
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So there’s hope I suppose. I’ll know for sure in two weeks since the next two are the only ones I’m missing.
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I can confirm that it doesn't. I completed the Ascendant Champion triumph three weeks ago and it didn't drop.
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Well, not sure. Just what others have said. I have seen Bungie say they are aware of the issue and are looking into it. I just hope it’s sorted out before Beyond Light as it’s also the only thing I need for Wayfarer as well.