The geoip_time_zone_by_country_and_region
function uses hardcoded data from this file, which is deprecated and hasn't had any time zone data updated since 2013. You should definitely not use it any more.
Additionally, that function by its definition alone is impossible to accurately implement, as there are many regions that use different time zones in different places within the region. Just in the USA alone, there are 16 states that have more than one time zone.
As an example, the US state of South Dakota is split almost down the middle between the Mountain and Central time zones.

geoip_time_zone_by_country_and_region("US", "SD")
is hardcoded to return "America/Chicago"
- which is the IANA time zone identifier for US Central Time - which applies in the eastern half of South Daktoa only. The western half should use "America/Denver"
instead.
Any approach to resolving a time zone needs to take much more than just country and region into account. A more accurate approach would be to use latitude and longitude coordinates, which could be resolved from an address (or at least a country, region, and city) via a number of different techniques.