You could use the summary item's OnGetText
event to provide your own text to display, something like
procedure TForm1.H_FormatSummaryItem(Sender: TcxDataSummaryItem; const AValue: Variant; AIsFooter: Boolean; var AText: string);
begin
if(TVarData(AValue).VType in [varNull, varEmpty])then AText := ''
else begin
if((Sender as TcxGridTableSummaryItem).Kind = skSum)then begin
AText := FormatDateTime('hh:nn', AValue);
end;
end;
end;