What time is 24:46:31 and where is it coming from?

I was checking through activity overnight and found this:

To my understanding, time runs from 00:00 to 23:59 and then back to 00:00, which is the start of the next day.

I’ll be the first to concede that my understanding of internet time/UTC and timezones is a bit below par, but surely this is wrong somewhere?

Can anyone help me understand this?

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24 hour format show 24:06 should be 00:06 - Home Assistant Community (home-assistant.io)

2021.10.2
Do not observe this bug.