On those live CDs there should be no NTP daemon running anyway.
And even if so we switched which defaults to non-utc for the following reason:
       rtconutc
           chronyd assumes by default that the RTC keeps local time (including 
any daylight saving changes). This is convenient on PCs running
           Linux which are dual-booted with Windows.

           If you keep the RTC on local time and your computer is off when 
daylight saving (summer time) starts or ends, the computer’s system
           time will be one hour in error when you next boot and start chronyd.

           An alternative is for the RTC to keep Universal Coordinated Time 
(UTC). This does not suffer from the 1 hour problem when daylight
           saving starts or ends.

           If the rtconutc directive appears, it means the RTC is required to 
keep UTC. The directive takes no arguments. It is equivalent to
           specifying the -u switch to the Linux hwclock program.

           Note that this setting is overridden when the hwclockfile
directive is specified.


If one wants to change that he can set rtconutc in
/etc/chrony/chrony.conf.

But as I said this should only apply once you install it, which by default I 
thought is not the case. Instead you likely just have systemd-timesyncd running.
Which I think defaults to
systemctl status hwclock
● hwclock.service
   Loaded: masked (/dev/null; bad)
   Active: inactive (dead)
And
                      Local time: Di 2018-05-29 09:43:08 CEST
                  Universal time: Di 2018-05-29 07:43:08 UTC
                        RTC time: Di 2018-05-29 07:43:08
                       Time zone: Europe/Berlin (CEST, +0200)
       System clock synchronized: yes
systemd-timesyncd.service active: yes
                 RTC in local TZ: no


So as I read it this already does UTC, here from the man page:
       set-local-rtc [BOOL]
           Takes a boolean argument. If "0", the system is configured to 
maintain the RTC in universal time. If "1", it will maintain the RTC
           in local time instead. Note that maintaining the RTC in the local 
timezone is not fully supported and will create various problems
           with time zone changes and daylight saving adjustments. If at all 
possible, keep the RTC in UTC mode. Note that invoking this will
           also synchronize the RTC from the system clock, unless 
--adjust-system-clock is passed (see above). This command will change the
           3rd line of /etc/adjtime, as documented in hwclock(8).

I'll re-target this bug at systemd (for systemd-timesyncd) but set it to 
incomplete until we find out which part of the service exactly sets non-UTC 
time as I'd think this would be the default.
You might start by looking at timedatectl on the live system.

** Also affects: systemd (Ubuntu)
   Importance: Undecided
       Status: New

** Changed in: ntp (Ubuntu)
       Status: New => Invalid

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https://bugs.launchpad.net/bugs/1703479

Title:
  Ubuntu 17.04 & Kubuntu 17.04 LiveCD writes to bios/hardware clock;
  thereby messing up my installed Windows 10 Pro laptop time

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