Accurate time is critical for ensuring Data accuracy and most apps utilize the system time. There are also a lot of Database functions that require accurate time. If you want to do DB clustering then a good reference time is required and Oracle even went so far as to make a service called "Cluster Time Synchronization Service (CTSS)" that specifically validates the system time configuration. Although why they still only support ntp and not chrony is something I would love to know.

What is Data Accuracy, Why it Matters and How Companies Can Ensure They Have Accurate Data.[2020] https://dataladder.com/what-is-data-accuracy/