Yes, it's possible e.g. using reg add
command.
Check the HKEY_CURRENT_USER\Control Panel\International
registry key:
reg query "HKCU\Control Panel\International"
For instance, query Short Time format:
reg query "HKCU\Control Panel\International" /V sShortTime
and set it to desired value:
reg add "HKCU\Control Panel\International" /V sShortTime /T REG_SZ /D HH:mm /F
If value name or data contains spaces, use double quotes (surrounding double quotes would not be written to registry):
reg add "HKCU\Control Panel\International" /V sShortTime /T REG_SZ /D "HH:mm" /F
A word of warning: Changing this registry value changes the settings in the user's profile, so it may have side effects in other areas. For example the way the clock is displayed in the task bar. And maybe it breaks other scripts that expect another time/date format.
So be careful when using this trick in something which you give to others!