diff --git a/clang/lib/Sema/SemaTemplateInstantiate.cpp b/clang/lib/Sema/SemaTemplateInstantiate.cpp
--- a/clang/lib/Sema/SemaTemplateInstantiate.cpp
+++ b/clang/lib/Sema/SemaTemplateInstantiate.cpp
@@ -3230,6 +3230,14 @@
       if (FunctionDecl *Pattern =
               Function->getInstantiatedFromMemberFunction()) {
 
+        if (Function->getTrailingRequiresClause()) {
+          ConstraintSatisfaction Satisfaction;
+          if (CheckFunctionConstraints(Function, Satisfaction) ||
+              !Satisfaction.IsSatisfied) {
+            continue;
+          }
+        }
+
         if (Function->hasAttr<ExcludeFromExplicitInstantiationAttr>())
           continue;
 
diff --git a/clang/test/AST/constraints-explicit-instantiation.cpp b/clang/test/AST/constraints-explicit-instantiation.cpp
new file mode 100644
--- /dev/null
+++ b/clang/test/AST/constraints-explicit-instantiation.cpp
@@ -0,0 +1,38 @@
+// RUN: %clang_cc1 -std=c++20 -ast-dump %s | FileCheck %s
+
+namespace PR46029 {
+
+template <int N>
+void canary1();
+template <int N>
+void canary2();
+
+template <int N>
+struct A {
+  void f() requires(N == 1) {
+    static_assert(N == 1);
+    canary1<N>();
+  }
+  void f() requires(N == 2) {
+    static_assert(N == 2);
+    canary2<N>();
+  }
+};
+
+// This checks that `canary1<1>` and `canaray2<2>` are instantiated, thus
+// indirectly validating that the correct candidates of `A::f` were really
+// instantiated each time. 
+// The `static_assert`s validate we don't instantiate wrong candidates.
+
+// CHECK:{{.*}}FunctionTemplateDecl {{.*}} canary1
+// CHECK:      {{.*}}TemplateArgument integral
+// CHECK-SAME: {{1$}}
+template struct A<1>;
+
+// CHECK:      {{.*}}FunctionTemplateDecl {{.*}} canary2
+// CHECK:      {{.*}}TemplateArgument integral
+// CHECK-SAME: {{2$}}
+template struct A<2>;
+
+template struct A<3>;
+}