The Edge 530 has a Lactate Threshold Heart Rate auto detect feature, however it appears to be completely broken. I chatted with Inder from Garmin Support and they recommended disabling the auto detect feature for now. And they're going to submit a request to the developers to either remove it, or at least document it better.
It order to disable it go to: Menu, My Stats, Training Zones, Heart Rate Zones, Lactate Threshold, Auto Detect LTHR. You can set it manually to the correct value if you like, but generally it's better to use FTP for cycling instead of LTHR.
Normally my Forerunner 935 auto detects my LTHR at about 177 bpm after maximum effort running activities, which seems correct. However my Edge 530 auto detects my LTHR at about 46 bpm which is obviously wrong. I am using the latest firmware version 5.00 and measuring heart rate with an HRM-Tri strap. The 530 does record correct heart rate data for my cycling activities, it's just the LTHR auto detect which doesn't work.
The same defect likely impacts the other 30 series devices.