Currently other players can see if someone uses the compass or takes a look at the map.
It would be a nice feature to make it obvious to others when they view their inventory / backpack.
It should play an animation for the controlling player where he takes off the backpack and puts it in front of him before the inventory screen becomes visible. Switching to the inventory is way too fast and feels somehow unreal.
Other players should also be able to see this animation and the stance when the inventory checking player is in his inventory.