How to reproduce:
1. Open the “ReproAssetShader“ project
2. Open the “SampleScene“
3. Set the “Edit/Project Settings/Graphics/Instancing Variants“ to “Strip Unused”
4. Click on the “Tools/AssetBundle Build“ then create and choose the “StripUnusedOutput“ folder
5. Navigate to the “Tools/UTJ/AssetBundleCheck“ window
6. Click on the “Load Asset Bundle“ button
7. Choose the “svc“ file from the “StripUnusedOutput“ folder
8. Click on the “Dump“ button under the “Shaders/Universal Render Pipeline/Baked Lit Test“ section in the “AssetBundleCheckerWindow“
9. Expand the “Keywords“ section

Expected result: The “INSTANCING_ON” keyword is present
Actual result: The “INSTANCING_ON” keyword is not present

Reproducible with: 2022.3.37f1, 6000.0.10f1
Could not test with: 2021.3.40f1 (Could not test because of the shader errors)

Reproducible on: macOS 14.5 (Intel), Windows 10 Pro (22H2)
Not reproducible on: No other environments tested

Notes:
- Additional information about the project setup added in the internal notes
- Changing the “Edit/Project Settings/Graphics/Instancing Variants“ to “Keep All” does not strip the “INSTANCING_ON” shader variant