Apparently there is a firmware bug present with GPS time synchronization.
Once time synchronization is performed, the watch will still show a significant delay of about 15s compared to radio controlled watches or NTP synchronized computers.
There seems to be a bug in the software routine to synchronize the watch time to the GPS standard.
Update: further research shows that the internal clock reference is only updated on date, hours and minutes while the seconds remain unchanged when synchronizing. This also applies to manual time setting via the menu option. Here the same behaviour can be observed, hour and minute is updated but the second count remains floating on its original timing.
Garmin should fix the synchronization routine so it would also reset the scound counter for the internal clock reference.