How can the date() function in PHP be used to format time values to display only hours and minutes?
To format time values to display only hours and minutes using the date() function in PHP, you can use the 'H:i' format specifier. This format will extract and display only the hours and minutes from the given time value. By passing the time value along with the 'H:i' format specifier to the date() function, you can achieve the desired output of displaying only hours and minutes.
$time = '2022-01-01 12:30:45';
$formattedTime = date('H:i', strtotime($time));
echo $formattedTime;