Those countries which don't have treaty-level agreements to transfer US state driving licenses to local licenses for those engaged in a transfer of residence (or acquisition of additional residence status) would be amongst many such jurisdictions. But even that wouldn't be the all of it.

A driving license not valid for use in a US state doesn't preclude non-US jurisdictions accepting the validity of a non-US license for use in non-US jurisdictions.

US states are only required to acknowledge the validity of foreign driving licenses for jurisdictions with which the US has treaty-level agreements.

There are some very senior former State Department lawyers who have multiple driving licenses -- all legally possessed and valid for use somewhere even if not everywhere.