My bad, after generating LODs, I launched DynDOLOD to check the options only, I didn’t think that the logs were being rewritten.
Anyway, if I disable Particle Waterfalls before creating LODs, the waterfall LODs will work fine. But then I'll have to disable PGPatcher_Output, but you don't recommend doing this (https://dyndolod.info/Mods/Community-Shaders#PBR).
Here are the logs with LODs from Particle Waterfalls:
file:///H:/GamesDowload/Skyrim%20SE%20Mods/_DynDOLOD/Logs/DynDOLOD_SSE_Debug_log.txt
file:///H:/GamesDowload/Skyrim%20SE%20Mods/_DynDOLOD/Logs/DynDOLOD_SSE_log.txt
file:///H:/GamesDowload/Skyrim%20SE%20Mods/_DynDOLOD/Logs/DynDOLOD_SSE_Object_Report.txt
Some waterfalls have working dynamic LODs, but some waterfalls work strangely, dynamic LODs are visible only at a short distance from the player, about a few cells after the LOD border, static LODs are activated further.