Steps to reproduce:

Open the attached project and view the scene in-editor.

The issue should occur in-editor and in-player. If in-editor you can select the particle system object to see the issue occur in the scene view.

To reproduce manually:

1. Create a scene with a particle system, using the built-in renderer.

2. Set the system to use the Mesh render mode and configure a mesh. 

3. Toggle "Enable Mesh GPU Instancing" on from the Renderer group.

4. Create a basic particle shader based upon a built-in version, and remove the 
"IgnoreProjector"="True" tag so that projectors can affect it. Add this to a material and set it on the particle system's renderer.
 
5. Add a projector to the world and give it a projector material.
 

Actual results: 

The particle system will render in editor and players with a visible static particle (or stack of particles) at the world origin.

!image-2024-02-13-14-33-56-415.png!

Expected results: 

There should be no orphaned particle(s) at the origin.

Reproducible with versions: 

2021.3.17f1, 2022.3.17f1, 2023.2.10f1