I'm having the same issue since last watchmaker update on my galaxy 1 watch (tizen) ie time is stuck to GMT or UMT and I cannot get it to my timezone (Eastern US -5). Watchface displays 6 o'clock when it's 1.
Works fine on my wear OS Huawei watch. Time is also correct on Samsung's own watchfaces...
For the time being I update the watch face to time zone 1 {tz1t} instead of {dh}:{dmz} but the date is still off by 5 hours.