Вы имеете в виду, в отличие от стандартного Winforms DateTimePicker?
this.dateTimePicker1.CustomFormat = "hh:mm tt";
this.dateTimePicker1.Format = System.Windows.Forms.DateTimePickerFormat.Custom;
this.dateTimePicker1.ShowUpDown = true;
...
private void dateTimePicker1_ValueChanged(object sender, EventArgs e)
{
MessageBox.Show(dateTimePicker1.Value.TimeOfDay.ToString());
}