Not sure about that, as your earlier opkg command did not show it as installed.
Note that there are two config lines and their usage varies depending of whether you have installed "zoneinfo" packages:
option timezone 'EET-2EEST,M3.5.0/3,M10.5.0/4'
option zonename 'Europe/Helsinki'
If
- zoneinfo packages is not installed (= the usual default), the POSIX compliant
timezone
string is used by musl libc. /etc/TZ is used as string storage. - zoneinfo packages are installed (e.g. zoneinfo-europe for me), the
zonename
option is used to fetch the info from zoneinfo database files based on zone name. There is no /etc/TZ or /tmp/TZ
If feel that you should set both options, just in case.
A list of the values currently supported by LuCI GUI is shown in https://github.com/openwrt/luci/blob/master/modules/luci-base/luasrc/sys/zoneinfo/tzdata.lua
That shows the combination of values (zonename, timezone string) that can be set to the config file. Note that Musl libc actually parses the options without any knowledge of this table, but the table just shows a summary of the normal zoneinfo contents (and has grabbed POSIX strings from there))