I think 15.5.2.5 starting at line 35 (2023 standard draft) is apropos: “f the dummy argument has the TARGET attribute and is an explicit-shape array […] and the effective argument has the TARGET attribute but is not simply contiguous […] then […] when execution of the procedure completes, the pointer association status of any pointer that is pointer associated with the dummy argument is processor dependent.”
My understanding is that “processor dependent” means invalid, but the compiler isn’t required to detect it.