I know for a fact I can dump Google Authenticator keys from my Android device with root as I'm able to back it up and move it to another device. Theoretically on most Android devices even there's a secure enclave available that could do it, yet I haven't seen any apps use it.
Most of the benefit of OTPs really comes from approving on a secondary device rather than protecting the keys to an absolute degree though, so this is probably of little concern to most users. In fact it may provide a convenience benefit, I like being able to backup and move my keys, without that I probably wouldn't use 2FA at all.