No. I feel using UTC then means everyone spends mental energy on time conversions versus just the organizer doing a quick check and coordinating with the team. UTC for software is best, but I don't think it works well for people in general that are spread across timezones.
There are systems that exist like calendly that helps you solve one to one meeting issues. For example, it works great for interview scheduling when people are in different timezones, but for internal meeting and coordination process is better then automation IMO.
Process here is easier. Use google calendar to find 2-3 times everyone is available (at least internal people) and send them out, that is the fastest way if you aren't already on the phone talking to everyone. This way it only takes 1-2 communications at most to schedule a meeting. You have to bake timezone management and meeting process into the company culture, it is really important. Just like I always add 24-48 hours to any estimate when I know it involved me speaking with the team in India.
Last point, meetings should be avoided for things where a document can be created, and comments added to it for the communication. We use Quip, write up the details in Quip, ask everyone for feedback by a specific date/time and then you move forward from there. It stops a lot of unnecessary meetings and lets you do things faster. It follows the adage of slow down to go faster.
I've been leading remote teams since 1997, which started because we had people in India, Germany and the U.S. The struggles we ran into over the years were all solved by setting basic processes and building a culture around accountability to the process. One key is reducing unnecessary meetings and using documentation and comments.