How to reproduce:

# Open the project "IN-77785 repro"
# Open the “kazkas” scene
# Navigate to Edit → Shortcuts…
# Find “ParticleSystem/ShowOnlySelected” and assign any key bind
# Select “Particle System 2“ GameObject and press the earlier assigned key bind

Expected result: Only the selected GameObject’s particles are shown
Actual result: Particles from all GameObjects are shown

Reproducible with: 2021.3.39f1, 2022.3.32f1, 6000.0.5f1

Reproducible on: Windows 11 Pro (10.0.22631)
Not reproducible on: No other environment tested

Notes:

* The key bind only toggles the checkbox but doesn't activate its functionality.