Time is behind by an hour even though TZ is correctly set

I have an Ubuntu 18 server VM running in ESXI. The timezone is set correctly but the time is still behind by an hour.

root@devserver:~# timedatectl Local time: Thu 2020-03-19 12:20:30 EST Universal time: Thu 2020-03-19 17:20:30 UTC RTC time: Thu 2020-03-19 17:20:30 Time zone: EST (EST, -0500) System clock synchronized: no
systemd-timesyncd.service active: yes RTC in local TZ: no

The time should be 13:21. Do I need to do make some kind of DST setting? It should be -0400, not 0500.

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