Present

Time relations: past, present, future

Implied: (may change in the future)
* Late modern period

Related:
* Real world

For example: a game published in 1997 with the game's events set in around 1995-1999 would fit this.

Some fluctuation should be allowed with the year as difficulties or delays with the publisher may cause the game get published later or earlier than intended and the date not being "fixed" to match this.

Also for games that don't specifically state the year but appear to be set around the same year as the game was made on.

Simply: if the depicted is technologically and culturally (nearly) identical with the time the game was released, this tag is perfect for it. Unfortunately these vary from place to place which may allow significant leeway.