I think this may have been resolved at one point, only to comeback again. I did not have this issue until I updated Media Encoder to 22.5 last week. I’m on an M1 Mac mini (MacOS 12.4). Premiere Pro 22.5 exports the file correctly.

same problem here using beatrig sidekick vst plugin.

Hello Adobe... Any comment?

Same problem here.

Agreed! I am using up-to-date VST3 plugins from iZotope and Waves. All work perfectly in real-time playback from Premiere, and all are being bypassed in renders from the latest version of Media encoder.
Those of us who rely on Premiere to achieve really professional results are often invested in costly collections of audio plugins, we have honed our application of them as a critical part of our craft, and absolutely need them to work.

This always used to work, so it's clearly a bug.
Dear Adobe Development team, we appreciate the work you do to maintain this valuable product.
This one is serious for those of us who rely on achieving professional results from Premiere.
Please prioritize the resolution of this issue.

Maybe this could be because the extra VST directories that have been added in premiere pro (and audition) are have not been send to media encoder?
It would be great to have [one place] to set directories to look for third party VST audio effects for all adobe programs that use them.
Audition / Premiere / Premiere Rush(?)/After effects / MEDIA ENCODER
Or that when I change the directories in Premiere pro that the other adobe programs know the directories also.

Same. It diid work normal before the last update.
(There has been this bug before)

:-(
Sad.

same

Same

Same problem here

Same Problem here

Same here.

Same here.
Just found out the problem.
It was all normal befor the latest update.