Why is node cron not running inside a forEach()?

Question

I'm currently creating a discord bot. One of the functions that I want it to have is to send 'scheduled messages', for which admins of that guild will be able to set the time they'll get sent.
I am using enmap for a per-server configuration system and cron for the scheduled message.
Here is my code so far:

bot.guilds.forEach((guild) => {

  let banquetTime;
  banquetTime = bot.settings.get(guild.id, "banquetTime");

  cron.schedule(banquetTime, () => {

    bot.settings.ensure(guild.id, defaultSettings);
    let banquetChannel = bot.settings.get(guild.id, "banquetChannel");
    let banquetMessage = bot.settings.get(guild.id, "banquetMessage");

    guild.channels
      .find(channel => channel.name === banquetChannel)
      .send(banquetMessage)
      .catch(console.error);
  });
}, {
  scheduled: true,
  timeZone: 'America/Los_Angeles'
});

When I run this, nothing happens. Does anyone know why?

I have another function where the .forEach() runs INSIDE the cron.schedule, and it works, but I'm not sure why when the cron.schedule is inside .forEach(), it doesn't work.
Here is the code where it works:

cron.schedule('00 45 12,20 * * *', () => {

  bot.guilds.forEach((guild) => {

    bot.settings.ensure(guild.id, defaultSettings);

    let expoChannel = bot.settings.get(guild.id, "expoChannel");

    let expoMessage = bot.settings.get(guild.id, "expoMessage");

    guild.channels
      .find(channel => channel.name === expoChannel)
      .send(expoMessage)
      .catch(console.error);
  });
});

Now, I can't run the .forEach() inside the cron for the top function because I need to grab the variable banquetTime from the .forEach(guild) first or else I won't be able to use it in cron.