I’m having an issue with this right now, since it should display the time with the local time as you say, but I’m in Venezuela (UTC -4:30, Caracas) and every match says it begins 1h before the actual time. I’m providing a screenshot to show you how it looks in my site (bottom section) opposed to what the real times should be according to my timezone (top section), from a calendar: https://a.pomf.se/vwnpye.jpg
The “Convert kickoff times to local timezone. If unchecked kickoff times are displayed as match local time” box is checked, if I uncheck it, the disparity is even larger for obvious reasons.