Under certain conditions, not enough space is allocated to the rendering of (wide) glyphs in the chosen font. See what happens to the four hashtags in the H4 line while stepping through pixel sizes:

The fourth hashtag in the quadruple-hashtag ligature gets cut off occasionally. The cut-off only appears on ligatures which comprise 4 or more characters, and only in some sizes. Screengrab: SublimeText build 3211 on macOS 10.14.6.
The font in question is MonoLisa, I am involved in its development and can supply a sample version to the SublimeText devs if necessary.
The key design difference between Fira Code and MonoLisa is that FC does backward replacement for its ligatures: <SPACE><SPACE><SPACE><LIG> where <LIG> has a negative left sidebearing and overlaps over the preceding spaces. And ML does forward replacement: <LIG><SPACE><SPACE><SPACE> where <LIG> has a negative right sidebearing and overlaps the subsequent spaces. Perhaps that is a clue.
The issue is being discussed in the MonoLisa GitHub repo:
(Update: we have received screenshots from Linux users where already a 3-character ligature shows cut-offs, see the GitHub issue linked above.)