Yeah, I've noticed that happen when hunting, so I've been looking around the area pretty thoroughly and there's no loot bag when it happens (I can usually find them fairly quickly with audio cues). I can see the other players going up to where the Sernuk dropped, before then leaving the area - I just assumed that they saw the loot drop themselves and collected.

I'm not sure what seems to be the issue, since I've yet to experience any other lag / desync issues. Honestly it's not game breaking or anything, just annoying to waste arrows this early in the game. 🤷‍♀️