Sage did not do us any favors by making the time a decimal instead of HH:MM
below is a formula that I believe will work for you although I have only done the most basic of testing and you may need to add logic to handle a NULL or Non-numeric time to be safe.
NumberVar OldTime := tonumber({SO_SalesOrderHeader.TimeCreated});
stringvar NewTime;
NumberVar Hours;
NumberVar Minutes;
//Extract the number of hours
Hours := Int(OldTime);
//Get the decimal portion for minutes and multiply by 60 to get the actual number of minutes
Minutes := Remainder(OldTime, 1) * 60;
// Put all of this in HH:MM format that is now essentially military time
NewTime := totext(Hours,0)+"":""+totext(minutes,0);
//now convert the military time to standard time
ctime(newtime)