I don't think that will ever be a feature unfortunately.
The screen in sleep mode actually not refreshed until you wake up the device again. The system goes into a sleep mode where the screen is not supplied with power.
Showing a clock on there would mean the processor should be kept running and the screen would need a refresh at least every minute. This will be very taxing on the battery so I don't think Kobo will implement this as a feature.
The closest you're going to get might be a custom application you can launch which displays the time, but obviously keeps the device from entering the true "sleep mode".
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