I just got an advert from Rapha claiming that base layers keep you cool and dry in the heat:
“The high-performance foundation for racing in hot and humid conditions…this layer accelerates evaporative cooling. By spreading sweat across a wide surface area, it converts liquid sweat into vapour faster”
Wouldn’t your jersey, if of a similar material, do exactly the same thing?
Purely anecdotally, I find I feel much hotter/sweatier on the indoor trainer on the odd occasions I don’t have a base layer to wear. I don’t know if its just because the sweat runs more because there’s nothing to soak it up.