GPU Particles will always have a lifetime of one second when using a collision module. This is a result of an issue with how off screen timing is handled. GPU particles that are off screen should only have a lifetime of one second when collision is enables, but this applies to particles that are on the screen.
There is a fix is in Dev-Niagara, but not in 4.22.
The particles will only last for one second, regardless of their actual lifetime.
There's no existing public thread on this issue, so head over toAnswerHub just mention UE-74097 in the post.