Is it possible to format time in an email template?

Sorry for the late reply! I ended up on the same page after some googling. The following ended up working:

<#if customrecord.custrecord_appointmenttime?has_content>
        <#assign apptTime = customrecord.custrecord_appointmenttime?time>
        <#assign apptTime = apptTime?string.short>
    <#else>
        <#assign apptTime = ''>
    </#if>