Niagara skeletal mesh emitter does not work in build

Using a skeletal mesh location as an emitter works fine in in the 4.25 editor but does not work at all in a packaged project.
Epic’s Mesh Reproduction content example has the same problem. Works fine in the editor but not in a Windows build.

The log says:

Does anyone know how to fix this?
Or is this a bug that will be solved soon?

Is CPU access enabled on the skeletal mesh? (Details->Allow CPUAccess)

Yes, it is. It works in the editor.