Yes. Scedule checks the time zone of the location and also the time zones of invited participants.
If you organise a virtual meeting, the time zone of the participants is automatically considered. When they are in different time zones, date proposals are generated that enable everyone to participate. The suggestions may then be outside your defined working hours, but definitely not at an individual participant's bedtime. This is particularly useful if you are not aware that a participant is on a business trip.
Scedule also determines the time zone at the location of the event. This allows you to plan your trip perfectly yourself. Because if you want to meet a colleague in the morning at his location, Scedule automatically selects the noontime of the selected location and not the noontime of your calendar with its local time zone.