Make QWidget transparent

My best guess to show an overlay widget, is convert the widget to a window, resize it to it’s contents and move them to the desired position manually.

MainWindow Example, showing the overlay widget in the center of the video widget:

Mwindow::Mwindow()
{
    widget = new Widget(this);
}

void Mwindow::widgetSizeMove()
{
    if (widget->width() <= videoWidget->width() && widget->height() <= videoWidget->height())
    {
        widget->setWindowOpacity(1); // Show the widget
        QPoint p = videoWidget->mapToGlobal(videoWidget->pos());
        int x = p.x() + (videoWidget->width() - widget->width()) / 2;
        int y = p.y() + (videoWidget->height() - widget->height()) / 2;
        widget->move(x, y);
        widget->raise();
    }
    else
    {
        widget->setWindowOpacity(0); // Hide the widget
    }
}

bool Mwindow::event(QEvent *event)
{
    switch (event->type())
    {
    case QEvent::Show:
        widget->show();
        QTimer::singleShot(50, this, SLOT(widgetSizeMove())); 
        //Wait until the Main Window be shown
        break;
    case QEvent::WindowActivate:
    case QEvent::Resize:
    case QEvent::Move:
        widgetSizeMove();
        break;
    default:
        break;
    }

    return QMainWindow::event(event);
}

Widget Example:

Widget::Widget(QWidget *parent) : QWidget(parent)
{
    setWindowFlags(Qt::Window | Qt::FramelessWindowHint);

    setAttribute(Qt::WA_NoSystemBackground);
    setAttribute(Qt::WA_TranslucentBackground);
    setAttribute(Qt::WA_PaintOnScreen);

    setAttribute(Qt::WA_TransparentForMouseEvents);
}

void Widget::paintEvent(QPaintEvent*)
{
    QPainter p(this);
    QString text = "Some foo goes here";
    QFontMetrics metrics(p.font());
    resize(metrics.size(0, text));
    p.drawText(rect(), Qt::AlignCenter, text);
}

Example when showing a video with LibVLC: