I set the timezone to +10:00 (Melbourne), with NTP sync. I enabled the daylight saving adjustment for Australia. It is syncing the time to NTP, and it's showing it in the +10:00 time zone, but failing to apply the +1 hour adjustment for Australian daylight saving.
I also have a TL-SG2210MP v1 with firmware 1.0.2 Build 20210806 Rel.55686 with the same problem.
I also just got a TL-SG2218 v1. When I first got it and configured it for timezone and Australian daylight saving, it showed the daylight saving time adjustment correctly. That was firmware 1.0.0 Build 20201104 I think. But then I upgraded it to firmware 1.0.1 Build 20210407 Rel.65593. After the firmware upgrade, it no longer showed the +1 hour adjustment for Australian daylight saving. Same for firmware 1.1.1.