login.conf puts passwordtime in RESERVED CAPABILITIES section that has this preamble:
The following capabilities are reserved for the purposes indicated and
may be supported by third-party software. They are not implemented in
the base system.
But in fact it looks that passwordtime is implemented in the base for several years now.
Maybe this is a case where we can fix the code to match the documentation.
(In reply to Conrad Meyer from comment #1)
Do you really mean removing support for passwordtime from FreeBSD? :-)