We investigated the solvent effects on the CT excited states in the quasi-axial (q-ax.) and quasiequatorial (q-eq.) conformers of PTZ-TRZ using steady-state PL, time-resolved PL, and TA spectroscopies. We determined the dipole moments in the CT excited states from the solvent permittivity dependence of steady-state PL spectra and the Mataga-Lippert equations to be 20.8 D and 23.2 D, respectively. The similarity of these dipole moments was consistent with the quantum chemical calculations. The TR-PL spectra of the q-eq. band showed that the fluorescence wavelength is shorter and the lifetime is longer in toluene (𝜀𝜀 = 2.38) than those in THF (𝜀𝜀 = 7.58). Moreover, TADF is observed only in toluene. This result is reasonably explained by the model that the stabilization of the S1 CT state in the higher permittivity solvent, THF, accelerates the non-radiative decay rate and suppresses the ISC to T1. On the other hand, the TR-PL spectra of the q-ax. band showed similar temporal behavior in both the solvents: the emission band is red-shifted at the longer delay times and there are two distinct lifetime components: less than 1 ns and a few nanoseconds. Judging from the spectral shift and the lifetimes, the states with shorter and longer lifetimes are probably assigned to the highly excited state, Sn, and the lowest singlet state, S1, respectively. The TA spectra showed a quick spectral change up to 20 ps and no change after 20 ps both in toluene and in THF. This quick spectral change is attributed to the relaxation to S1 and the structural change from e-ax. to e-eq. in the highly excited state. Because the time profiles in the nanosecond range are almost the same as those of TR-PL of the q-eq. band, no TA from S1 in q-ax. is observed probably due to its transition probability.