Which date format do you mean? The one in the import tab? I think that this takes the format set in Windows.
The timecode for Timecode Basic Titles? If so, then no, but I think that we should put this on the wish list because the date format is extremely bad. It should be or there should be the correct format: yyyy.mm.dd. In my opinion, there should be no mm.dd.yyyy or dd.mm.yyyy because I and millions of others don't know which one it is. In Canada, we get both formats on receipts from stores and a year later we don't know whether we purchased on Feb. 9 or September 2. I blame the Removed by Moderator for this mess.
I think It depends on how you interact with the outside world on a daily basis.
In my normal work I'm sometimes asked what the date is. I would not answer starting with the year. Before digital if some-one asked the time in England the answer would have been minutes first and hours after. If you still wear an analog wristwatch you may still answer such a query the same way. I suspect eventually y.m.d will win out but things take a while or imperial threads and measurements would have long gone by now. Why do we put liters in a fuel tank but still measure miles per gallon? Drink pints of beer but buy liters of milk? Can you still get pint cartons? Why do some websites have months instead of numbers in their date option boxes? psi vs bar? Why are TV screens measured diagonally? Technically we seem to be adding more variation as time progresses rather than reducing differences.
This is just one more variation. I don't expect change any time soon.