Reproduction steps:
1. Open the attached “Test Project” project
2. Open the “OutdoorsScene” Scene in the Project window
3. Observe the Game View
4. Open the “VFXGraph” Asset in the Project window
5. Connect the “Initialize Particle” Node to the “Update Particle” Node
6. Connect the “Update Particle” Node to the “Output Particle Quad” Node
7. Repeat step 2

Expected result: “VFXGraph” Particles on the right successfully render without “Update Particle” Node
Actual result: “VFXGraph” Particles on the right do not render

Reproducible with: 2020.3.48f1, 2021.3.25f1, 2022.1.0a15
Not reproducible with: 2022.1.24f1, 2022.2.18f1, 2023.1.0b16, 2023.2.0a14
Fixed in: 2022.1.0a16

Reproducible on: Windows 10