I've read two documents:
https://www.quantconnect.com/lean/documentation/topic16.html
https://www.quantconnect.com/docs/algorithm-reference/importing-custom-data#Importing-Custom-Data-Initializing-Custom-Data

For me, there's not enough clarity in regards to the Time field. First, I know that we override GetSource to provide the URL or local data file for the datafeed.Second, we override Reader to parse the datafeed. At a minimum, we set the following fields:

Symbol - Should always be set to config.Symbol
Time - Required synchronization of custom data
Value - Required for purchasing and portfolio calculations

I know the DateTime.Parse() function is available. My question is, does the Time field need Date only, Time only or Date and Time?

If the datafeed only provides the Date (YYYY-MM-DD) only, then that implies Daily resolution. If the datafeed only provides the Time (HH:MM), then QuantConnect can't sync on the dates. If the datafeed provides Date and Time (YYYY-MM-DD HH:MM), then QuantConnect can sync on the date and time.

If my custom datafeed is a Resolution of one Minute, then it seems to me that my custom datafeed should provide Date and Time to the Time field. So then, if my datafeed's first field is YYYY-MM-DD HH:MM and I use the DateTime.Parse() function, then it should work?

Time = DateTime.Parse(customdata[0]);