The runtime is linear in the array size.
To see why, here's a sample implementation of memset, which initializes an array to an arbitrary value. At the assembly-language level, this is no different than what goes on in your code.
void *memset(void *dst, int val, size_t count) {
unsigned char *start = dst;
for (size_t i = 0; i < count; i++)
*start++ = value;
return dst;
}
Of course, compilers will often use intrinsics to set multiple array elements at a time. Depending on the size of the array and things like alignment and padding, this might make the runtime over array length more like a staircase, with the step size based on the vector length. Over small differences in array size, this would effectively make the runtime constant, but the general pattern is still linear.