You can change the TimeZone using SharePoint Online CSOM like this:
#Load SharePoint CSOM Assemblies
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.dll"
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.Runtime.dll"
#Config parameters for SharePoint Online Site URL and Timezone description
$SiteURL = "https://tenant.sharepoint.com/sites/dev"
$TimezoneName ="(UTC+04:00) Abu Dhabi, Muscat"
#Get Credentials to connect
$Cred= Get-Credential
$Credentials = New-Object Microsoft.SharePoint.Client.SharePointOnlineCredentials($Cred.Username, $Cred.Password)
#Set up the context
$Ctx = New-Object Microsoft.SharePoint.Client.ClientContext($SiteUrl)
$Ctx.Credentials = $credentials
#Get all available time zones
$Timezones = $Ctx.Web.RegionalSettings.TimeZones
$Ctx.Load($Timezones)
$Ctx.ExecuteQuery()
#Filter the Time zone to update
$NewTimezone = $Timezones | Where {$_.Description -eq $TimezoneName}
#sharepoint online powershell set time zone
$Ctx.Web.RegionalSettings.TimeZone = $NewTimezone
$Ctx.Web.Update()
$Ctx.ExecuteQuery()

Reference:
SharePoint Online: Change Time Zone using PowerShell