This is one of the one-off cases, but I had a TPA-IAD-ORD-PDX trip, with an overnight in ORD (Arriving at 11:32pm, leaving next morning at 7:30am). The kiosk auto-generated the tag to check the bag all the way to PDX, with the TPA agent confirming that ORD will store the bag overnight, and the bag did arrive in PDX with me.
Maybe it's an exception to the overnight rule if you take the first flight out to the destination, assuming all under one PNR?