@WilsonEPhillips thanks for reply.
This was posted a few hours ago when I originally had the issue and posted on Reddit, but was on hold by forum admins until now.
I have resolved the issue myself before this got posted, it was because of my keyboard so nothing to worry about.
=======Attaching my update posted on Reddit below==========
I later on figured out Meta+T (edit tile) works, which is weird as it should also be a global level shortkey. Then realized function keys just aren’t working on my keyboard at all, because it has switched to Fn key mode by accident, so I have to press Fn+F4 to register F4 press.
After switching back the mode on Keyboard I confirmed the shortcut keys work just fine 
For anyone finding this thread in the future with similar problem:
during the research process I saw this article mentioned a bad shortkey config file may cause global shortcuts stopped working: https://pay.reddit.com/r/kde/comments/16mmacx/some_shortcuts_with_meta_key_dont_works/
I also observed that on my Steamdeck (Runs KDE Plasma on X11 in Desktop mode), it is kglobalaccel
that registers org.kde.kglobalaccel
on dbus instead of kwin:
(deck@steamdeck ~)$ qdbus org.freedesktop.DBus /org/freedesktop/DBus org.freedesktop.DBus.GetConnectionUnixProcessID org.kde.kglobalaccel
3039
(deck@steamdeck ~)$ ps aux | grep 3039
deck 3039 0.0 0.1 229928 26528 ? Ssl 15:16 0:00 /usr/bin/kglobalaccel5
deck 7142 0.0 0.0 6564 2460 pts/1 S+ 16:01 0:00 grep --color=auto 3039
(deck@steamdeck ~)$ systemctl status --user plasma-kglobalaccel.service
● plasma-kglobalaccel.service - KDE Global Shortcuts Server
Loaded: loaded (/usr/lib/systemd/user/plasma-kglobalaccel.service; static)
Active: active (running) since Mon 2023-10-09 15:16:29 CST; 46min ago
Main PID: 3039 (kglobalaccel5)
Tasks: 3 (limit: 17686)
Memory: 4.7M
CPU: 197ms
CGroup: /user.slice/user-1000.slice/user@1000.service/background.slice/plasma-kglobalaccel.service
└─3039 /usr/bin/kglobalaccel5
Oct 09 15:16:29 steamdeck systemd[1116]: Starting KDE Global Shortcuts Server...
Oct 09 15:16:29 steamdeck systemd[1116]: Started KDE Global Shortcuts Server.
And I actually cannot start kglobalaccell service manually in Arch Linux
❯ systemctl --user status plasma-kglobalaccel.service
○ plasma-kglobalaccel.service - KDE Global Shortcuts Server
Loaded: loaded (/usr/lib/systemd/user/plasma-kglobalaccel.service; static)
Active: inactive (dead)
❯ systemctl --user start plasma-kglobalaccel.service
Job for plasma-kglobalaccel.service failed because the control process exited with error code.
See "systemctl --user status plasma-kglobalaccel.service" and "journalctl --user -xeu plasma-kglobalaccel.service" for details.
❯ systemctl status --user plasma-kglobalaccel.service
× plasma-kglobalaccel.service - KDE Global Shortcuts Server
Loaded: loaded (/usr/lib/systemd/user/plasma-kglobalaccel.service; static)
Active: failed (Result: exit-code) since Mon 2023-10-09 15:09:13 CST; 52min ago
Duration: 1.929s
Main PID: 4772 (code=exited, status=1/FAILURE)
CPU: 19ms
Oct 09 15:09:11 fsworld009-archlinux systemd[1237]: Starting KDE Global Shortcuts Server...
Oct 09 15:09:11 fsworld009-archlinux systemd[1237]: Started KDE Global Shortcuts Server.
Oct 09 15:09:13 fsworld009-archlinux kglobalaccel5[4772]: kf.dbusaddons: Couldn't register name 'org.kde.kglobalaccel' with DBUS - another process owns it already!
Oct 09 15:09:13 fsworld009-archlinux systemd[1237]: plasma-kglobalaccel.service: Main process exited, code=exited, status=1/FAILURE
Oct 09 15:09:13 fsworld009-archlinux systemd[1237]: plasma-kglobalaccel.service: Failed with result 'exit-code'.
Steamdeck version info at the time of this writing
Operating System: SteamOS 3.4.11
KDE Plasma Version: 5.26.1
KDE Frameworks Version: 5.99.0
Qt Version: 5.15.6
Kernel Version: 5.13.0-valve37-1-neptune (64-bit)
Graphics Platform: X11
Processors: 8 × AMD Custom APU 0405
Memory: 14.5 GiB of RAM
Graphics Processor: AMD Custom GPU 0405
Manufacturer: Valve
Product Name: Jupiter
System Version: 1
But as I said these have been proved unrelated to my issue, just leaving my note here for knowledge sharing, and hope this will help people in the future.