CA Privileged Access Manager 3.x
This is a known issue
It happens sporadically, Time Zone Region is shown as UTC once in 5 or 10 times.
For Case#1, it would be shown correctly just click another menu like 'Policies' and then back to show it again.
The fix will be available in later versions such as 3.1.3, 3.2.2 and 3.3.