TikZ Images in org-latex-preview

If you use LaTeX within org-mode you may come across a situation where you would like to embed TikZ diagrams and have Emacs preview them with org-latex-preview. Unfortunately Emacs does not handle this very well out of the box. The reason for this is not entirely clear to me. However, one reddit comment suggests this is because the default program used to generate LaTeX previews, dvipng, does not…