Integrating timedatectl//systemd-timesyncd with readonly root file system

I assume that is a standard system function provided by the C library or some such.
One possibility may be to use a bind mount of /etc/localtime into the /data partition. I have not tried it myself but that may work:

# mount -t bind /data/localtime /etc/localtime

And then /data/localtime is the symlink to the file in /usr/share/zoneinfo.

Drew