In different types of Views, there is a need to give the option to use the Formula field value If that value is matched and can be used on different view types.
Let's see one scenario:- I've 2 dates 1) Due Date and 2) Other Date.
If sometimes the Due Date is not filled I want to use that other date as a Timeline view date.
Generally, we create a new formula field and check if the Due Date is not null then use Due Date otherwise use Other dates.
See this for reference https://community.smartsuite.com/ask-the-community-79nzlz5l/post/how-do-i-use-a-date-created-by-a-formula-in-the-timeline-view-jixuUqjHR5ZmwVw
I've also checked that this totally depends on a feature called Format formula fields (https://smartsuite.canny.io/feature-requests/p/format-formula-fields).
This was Planned on November 5, 2022. Please also do an update on this.