Unfortunately, it doesn't specify those known locations. It explicitly declines specifying that /bin/sh exists.
https://pubs.opengroup.org/onlinepubs/9699919799/utilities/s... says:
> Applications should note that the standard PATH to the shell cannot be assumed to be either /bin/sh or /usr/bin/sh, and should be determined by interrogation of the PATH returned by getconf PATH, ensuring that the returned pathname is an absolute pathname and not a shell built-in.
and it doesn't specify the location of getconf either, so you have a chicken-and-egg problem where you need the standard $PATH to find getconf to get the standard $PATH.