If non-owner player calls VRC_ObjectSync.TeleportTo, the object change position and rotation only in his world. Other players (include owner of the object) still see it at previous position. In short, location desynchronization will happen.

If the object is moving by physics (not in sleep state), this TeleportTo caller sees it at teleport target location at the instant, but it goes back to previous position. (I think it is because the object basically moves along owner's world physics calcuration.)

I tested with SynchronizePhysics enabled, SendRPC Targets is All, client version 2018.3.1.

Workaround: Call TakeOwnership before calling TeleportTo.