If I'm making a note of a solar eclipse, I need it to stick with physical time, and if the offset changes the reported time changes.
If I'm scheduling a conference call to Australia, then when the offset changes, one of us is going to have to reschedule, and my calendar can't know which. (We might both have to reschedule, if neither of us can move it by a single hour.)
It might be able to say "you scheduled this at 10AM, but the DST rules changed, and that physical time is now 11AM wall time, what to do?" My Australian colleague isn't going to get that warning, unless her calendar knows that she's talking to someone in Chile, but as long as one of us knows about the problem, we should be okay. But I'm not sure I trust this to cover all bases.
Usually the time from a new update is released at least a week before the change takes place. So your software might alert you about the time on the same day or the day before of the meeting. Or even half an hour before. Do the calculations at that time of the alert with the newest timezone data. And if the software is up to date with timezone database changes, users in other time zones will be alerted about the correct time. The calculation will be made before the meeting from 15:00 Sydney to whatever other time zone someone might be in.
(Of course, its actually possible that there were essential constraints on both sides, in which case, the problem is more difficult, or that the key constraint was that the call needed to immediately precede or follow an event in a timezone different from Australia or Chile.)
Really, determining the key intent here is hard, and there is no one rule that makes it painless in all cases. There are lots of different possible intents with timing, and there is no single general rule that handles all possible changes in local time rules between the time an event is scheduled and the time it occurs.
Imagine if the meeting included a conference call to someone in Australia. A day before the meeting, the bureaucrats change the DST rule. The meeting invite for the Australian now has incorrect time. Storing as local time will work against events applicable across timezones.
The problem isn't with UTC, it is unexpected rule changes that the converting agent (software) did not predict. That logic will have to be coded in.