So, exactly what is a functionally grounded conductor and where can it be found? With transformer coupled inverters one could say that the negative DC conductor was functionally grounded, but they have gone the way of the dodo.
On systems from 10 years ago, it was common practice for an inverter to ground one of the polarities thru a GFCI fuse or breaker. That polarity would be the grounded conductor, and the standard required you to identify it as you'd identify any other grounded conductor, and label the inverter to inform the user of the possibility of an ungrounded white wire during a ground fault. The code didn't have the term "functionally grounded" at the time. In concept, a system like that could be built today, and the grounded polarity would be the "functionally grounded conductor". The current standard requires you to identify it, as if it were an ungrounded conductor, in contrast from the pre-2017 standards.
Today, most inverters no longer isolate the DC and AC sides, so the two polarities "float" at symmetric DC voltages to ground, and use a different means of detecting ground faults. They still call this a functionally grounded system, as long as the AC side is connected to a grounded grid. I consider both of these conductors to be ungrounded in this case. The reason the NEC calls it functionally grounded, is that there is only one degree of freedom to set the two voltages relative to ground, rather than both of them being two independent ungrounded voltages. My preferred term for this, is "symmetry grounded system".
I like the term functionally grounded in general, but I dislike that the NEC assigns the same term for two wildly different kinds of systems.