IO540 asks if there are GPS that use this "N5207.62 E00057.47" representation.
My old Garmin III+ (admittedly not a specialist aviation GPS) can display any of the following
N DDº.DDDD EDDDº.DDDD - degrees plus decimals of a degree
N DDº MM.MMM E DDDº MM.MMM - degrees plus minutes and decimal fractions of a minute (default setting)
N DDº MM' SS.S" which goes down to decimal fractions of a second.
The display actually leaves a blank space after the latitude N (or S) where a redundant leading zero would be.
I only brought up the subject of GPS and Google Earth as examples to show that several different conventions exist