I agree. The first one is the setting of the upgrade window for the Meraki-scheduled upgrades. In the dashboard it is set under Network-wide > Configure > General. The time zone is set above on the same configuration page, too. The upgrade window is the network local time.
The second one is the setting for the custom upgrade setting, in the dashboard just below the upgrade window setting. It is set per product.
Surprisingly, the API call shows the time zone. Seems you can set it via PUT /networks/{networkId} and via PUT /networks/{networkId}/firmwareUpgrades.