Unless the optimizer has rules around its own intrinsics or whatever, though. Again, this isn't a black/white issue. You need to know what specific toolchains are going to do when writing base level software like C libraries (or RTOS kernels, which is my wheelhouse). The semantics defined by the standard are not sufficient.

Memory barrier builtins, inline assembly and other builtins may not be defined by the standard itself but won't lead in themselves to undefined behavior in my understanding since those are compiler extensions and defined by the implementation. (though invalid use can lead to UB, such as passing 0 to builtin_clz or modifying registers outside of the clobber list in inline assembly)

With that being said, I would definitely expect that the small set of UB that ubsan reports about is actually undefined for the compiler that implements the sanitizer (meaning: either problematic now or problematic in some future update).