Django admin: datetime is displayed in UTC despite settings

Question

I have this in the DB: 25.0|120|CashApp|0.0|0|1|2022-03-03 22:05:17.025000

This in the settings.py:

TIME_ZONE = 'US/Eastern' # = EST
USE_I18N = True
USE_L10N = True
USE_TZ = True

And this in the admin.py:

def timestamp_(self, obj):
    return obj.timestamp.strftime("%d %b, %I:%M %p") # :%S
timestamp_.admin_order_field = 'timestamp'

And on the page it's displayed like this: 03 Mar, 10:05 PM

From what I understand it stores the timestamp in UTC in the DB, which is perfect, but why it displays it in UTC on the page? I've read that if I don't do activate(), the current timezone will be the same as default timezone, which should be EST in my case. What am I missing?