JSFiddle - React, Tailwind, and code Playground

HTML

<input id="txtTime"/>

JavaScript

function formatTime(s) {
    return s.replace(/\D/g, "").replace(/^(\d\d)(\d\d).*$/, "$1:$2");
}

(function ($) {
    $.fn.timeInput = function(){
        return $(this).keyup(function(){
            $(this).val(formatTime($(this).val()))
        });
    }
})(jQuery);

$("#txtTime").timeInput()