Im not sure if this is a know limitation or an actual issue. When enabling/disabling Low res Transparency setting, there is a drastic lighting/rendering change in the scene. Looks like particles are blending in a different way and the bloom is not working the same way.

Reproduction:
1) Open the spaceship project https://github.com/Unity-Technologies/SpaceshipDemo
2) Move to the VFX room
3) Pause the game looking at the particles
4) In HDRP asset enable and disable Low res Transparency

edit: was able to reproduce it on dx12 too, but not on dx11