Try the following:
R> format(as.POSIXct(Sys.Date() + 0.8541667), "%H:%M", tz="UTC")
[1] "20:30"
R>
We start with a date - which can be any date, so we use today - and add the desired fractional day.
Then we convert the Date type to a Datetime object.
Finally, we format the time and minute parts of the Datetime object, ensuring that UTC is used for the time zone.
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