The person invited late receives less preparation time for the same expectation of insight.

Being brought in late is a real handicap that rarely gets counted as one. Everyone else has had days to think, gather context and form a view, while the newcomer is expected to contribute at the same level from a standing start. When their contribution is thinner, the shortfall gets read as ability rather than as timing.

If you are running the meeting, say plainly who joined when and what they have not had time to see. If you are the one arriving late, it is fair to ask for the background before anyone asks for your opinion.