Well, a lot of possibilities.
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You died somewhere away from where you were.
When we get disconnected, sometimes we keep the momentum, i.e. if you are running, you will keep running for a while after disconnected. So this could be the case.
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Who killed you?
Check the event log.
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You can’t find your body regardless of the marker showing on map.
There is a very small chance that another player found your corpse and chopped it up with a butcher’s chopper or a skinning knife like they would an animal.
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Items decayed.
Said player didn’t loot your bag and ran off…
And lastly, there’s no refund policy for lost items so my condolence.