Is it possible to render-in-place multiple instrument tracks controlled by a MIDI track?

Cubase
1

Cubase 13.0.55 Pro, macOS Tahoe 26.5.2, MBP M3

I have a project with one MIDI track containing a MIDI clip that controls 2 instrument tracks, as follows:
– instrument track A (VST synth A): via Output Routing
– instrument track B (VST synth B): via MIDI send 1

Both instrument tracks output directly to Stereo Output. The layered audio sounds as expected.

When I select the MIDI clip and Render In Place, it outputs an Audio track containing only audio from instrument A. This happens regardless of RIP settings such as Dry, Channel Settings, Complete Signal Path. No muting, soloing is being used.

I’m wondering… is rendering both instruments to audio using RIP even possible? If so, I’d prefer that workflow than using Audio Mixdown.

Thanks!