I understand that FAT32 formatted file-systems record timestamps for file modified times in Local Time and not UTC time.
However, if a device records a file to a FAT32 SD card using a datetime with no timezone*, what TZ does the SD card assume it is receiving?
My guess is either:
Bonus for canonical sources.
Edit: Preliminary testing says #2.
So rather than call it Local Time -- it might seem more appropriate to call FAT32 file timestamps as "TZ Agnostic"
Given the vintage of FAT32 and its predecessors the concept of adding a time zone to a file save or formatting was quite alien.
Similar for DOS,the time was the time so naturally it was local time.
I doubt that I could find a canonical source that was contemporary to those design decisions (or more accurately lack of design).
So to answer your question the file save time is most likely the local time, but later operating systems could decide to change the practice. There is no standard way to store the TZ of the FAT32 device so you can discount that option