There was another similar question about bounce rate recently.
Solved: Engagement metrics - Bounce rate - Adobe Experience League Community - 701410
Basically, when there is a bounce that means there was one hit on your site, and then the visitor left. In order to calculate a time spent on site there needs to be at least 2 hits. Adobe isn't a heartbeat system, if you want to capture time spent it has to be between two hits (it would take the timestamp of the 2nd hit minus the 1st hit to calculate the time). Therefore, bounces won't be included in your time spent on site calculation, because there isn't a second hit to use in the calculation.