Particle production is common to many microphysical models of inflation and can imprint observable features in the cosmic microwave background (CMB) anisotropies. We consider a scenario in which the inflaton couples to an extremely massive field ($m_{\chi }\gtrsim 𝒪(100H_I)$, where $H_I$ is the inflationary Hubble scale). In this model, particle production happens in a burst at a characteristic conformal time, ${\eta }_{*}$, which sources localized features in the CMB. In this paper, we compute the full temperature and polarization two-point functions for this model. We then search for these features in CMB power spectrum data from Planck and the Atacama Cosmology Telescope (ACT), with the latter allowing access to features on smaller angular scales. In the joint analysis of Planck and ACT data, we find a mild $\sim 2\sigma$ hint for a signal induced by this inflationary model on scales $3\mathrm{\text{Mpc}}\le {\eta }_{*}\le 10\mathrm{\text{Mpc}}$, though this hint is not present at a statistically significant level in either dataset when analyzed individually. Using a Fisher forecast, we find that these features should be observable at the $3-5\sigma$ level for a Simons Observatory-like experiment, if they are indeed real. We also compare our power-spectrum-based constraints to previous matched-filter-based bounds on this model. For sufficiently light particles ($m_{\chi }\lesssim 200H_I$), the power spectrum yields tighter constraints by more than an order of magnitude, but in the higher-mass regime where particle production is rare, the matched-filter approach provides stronger bounds.