This music plays in the second to last level: Death Station Zone Act 2. This is when you are nearing the final boss. It has 110 total rings, and is considered a boss act. I am yet to decide on who is the final boss. After you defeat the final boss (Whose attack pattern will depend on difficulty), the "Sudden Escape" section will trigger and you need to run for your life as not even rings will protect you. You can also trigger the TRUE final boss by defeating the final boss with all emeralds collected. Can you beat it on Nightmare difficulty? You have to admit, the loop is clean and you can see the level before the title card fades away.
Title Card made by me in Google Slides. Rings, numbers, and X by SEGA. Tobias and his life icon are owned and created by me. Although I do not own the Sonic.exe life icon, I was able to remake it to some extent using Flux's life icon and some recoloring. Flux and his icon are, indeed, by me. Music: Final Boss Phase 1 - Freedom Planet.