Intersting. I wonder if @PG1 can say what this PluginSettings.dat file does and why it would affect rendering quality.
I doubt this can be the cause, because PluginSettings.dat is only by the settings edited in the two following tabs. Maybe some unwanted checks in the “Dyn” column?
It’s probably one or more of those plugins, or a particular combination of those plugins, which is causing the issue during render only, since playback is fine. I note you use the phrase ‘should work without any issue’ but you can’t be 100% sure of that unless you test it. Did you try separately rendering with each of the plugins one by one to be sure that each of them renders without any issue? Also, are you using the latest updates of those plugins and the VST3 versions?
In my opinion, rigourous testing is the best way to find the source of an issue like this. However, it would seem that in the meantime you have found a solution with the PluginSettings.dat file 
Hi
Actually … as a user who has been affected by a render issue in the past … I do not (with respect) think you can assume that is the case.
My instance was totally random. The small group of up to date VST3 plugins running on latest WL at the time and then current Windows update were extensively (and I mean extensively) tested. They were all written by people that really know what they are doing. (Paul Frindle, Dave Gamble, Aleksey Vaneev) Those plugins were working since way before WL11, used on sessions literally ever day for years, and I can’t recall seeing any reports from WL users of rare issues that were not promptly addressed by the coders.
It was as though the plug state was not read or sent a message that corrupted the dat file.
It’s way above my paygrade to speculate on cause, but, as in my case, deleting the dat file ‘worked’.
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