The Instanced Animation System requires at least one camera to work properly. It will use the MainCamera at initialization, but if you are changing cameras in runtime or using multiple cameras simultaneously, you should control which one of them is set to "BlackRoseProjects.InstancedAnimationSystem.InstancedAnimation.CurrentCamera".

This camera will be used to calculate LOD and some other calculations. When you change the camera to another, set it also to that field.
Additionally, if you do not have a camera tagged as MainCamera, Instanced renderers will be invisible until you set the CurrentCamera field.

‍If you have multiple cameras with the MainCamera tag, Unity will select the last one initialized as Main, but can sometimes still use the first one as Instanced Current. Try to keep only one camera as Main.