After a bunch of testing and looking around I think I should actually change my statement. GPUs do offer IEEE floating point compliance by default, but don't strictly adhere to it. Multiple optimizations that can be applied by the driver developers can massively effect the floating point accuracy.
This is all kind of on the assumption that the accuracy of floating point multiplication and division is in the IEEE spec, I was told before that it was but searching now I can't seem to find it one way or the other.
I believe one of the optimizations done by nvidia is to drop f32 variables down to f16 in a shader. Which would technically break the accuracy requirement (as before if it exists). I don't have anything I can offer as proof of that due to NDA sadly though. I will note that most of my testing and work is done in PIX for Windows, and most don't have anti-cheat so they're easy to capture.