"The management of Ultrawide Band compliance and its use of location data is done entirely on the device and Apple is not collecting user location data."

Call me paranoid, but this statement is telling us that:

"The management of UWB compliance and the management of its use of location data is done on the device" -- which okays that the data can be used outside the device, only the management needs to be done on the inside,

"Apple is not collecting user location data." -- which could mean that some other parties (not Apple) _could_ collect user location data.