System Information
Operating system: Windows 10 Home
Graphics card: 1050 Ti
Blender Version
3.0 & 3.0.1
After baking particles, then rendering in either Cycles or Eevee, the last frame in the animation will not render the particles.
Add a new mesh, like a cube or sphere or a Suzanne, any mesh with a face will do.
[Optional] Move said object out of camera view for a cleaner render.
Add a particle system to the Default Cube, and change the render as under the 'Render' tab for particles to object and set the instance object to the mesh created prior.
[Optional] Change the end frame to something like 30 so the bake is shorter,
Bake the particles, jump to the last frame and render the frame, note the absence of particles, now go back one frame so it's the second to last frame, note the presence of particles