I doubt that. That's like the philosophical question "Does the Earth rotate if no player is there to observe?". And imho the answer is 'no'.How many times have the servers been taken offline for updates / patching? Maybe the engine is just still rendering based on July 2022 ...
When you drop out and the game creates an instance for you, it will simply take the current time and position the planet accordingly.
But keep in mind I have no clue about Elite's actual code either.