You can use date filter to convert in date and display in specific format.

In .ts file (typescript):

// variables used in html
let dateString = '1968-11-16T00:00:00' 
let newDate = new Date(dateString);

// format date in typescript
getFormatedDate(date: Date, format: string) {
    const datePipe = new DatePipe('en-US');
    return datePipe.transform(date, format);
}

// Convert date to user timezone
const localDate: Date = this.convertToLocalDate('01/01/2021');

convertToLocalDate(responseDate: any) {
    try {
        if (responseDate != null) {
            if (typeof (responseDate) === 'string') {
                if (String(responseDate.indexOf('T') >= 0)) {
                    responseDate = responseDate.split('T')[0];
                }
                if (String(responseDate.indexOf('+') >= 0)) {
                    responseDate = responseDate.split('+')[0];
                }
            }

            responseDate = new Date(responseDate);
            const newDate = new Date(responseDate.getFullYear(), responseDate.getMonth(), responseDate.getDate(), 0, 0, 0);
            const userTimezoneOffset = newDate.getTimezoneOffset() * 60000;

            const finalDate: Date = new Date(newDate.getTime() - userTimezoneOffset);
            return finalDate > Util.minDateValue ? finalDate : null;
        } else {
            return null;
        }
    } catch (error) {
        return responseDate;
    }
}

In HTML:

{{dateString |  date:'MM/dd/yyyy'}}

Below are some formats which you can implement :

Backend:

public todayDate = new Date();

HTML :

<select>
<option value=""></option>
<option value="MM/dd/yyyy">[{{todayDate | date:'MM/dd/yyyy'}}]</option>
<option value="EEEE, MMMM d, yyyy">[{{todayDate | date:'EEEE, MMMM d, yyyy'}}]</option>
<option value="EEEE, MMMM d, yyyy h:mm a">[{{todayDate | date:'EEEE, MMMM d, yyyy h:mm a'}}]</option>
<option value="EEEE, MMMM d, yyyy h:mm:ss a">[{{todayDate | date:'EEEE, MMMM d, yyyy h:mm:ss a'}}]</option>
<option value="MM/dd/yyyy h:mm a">[{{todayDate | date:'MM/dd/yyyy h:mm a'}}]</option>
<option value="MM/dd/yyyy h:mm:ss a">[{{todayDate | date:'MM/dd/yyyy h:mm:ss a'}}]</option>
<option value="MMMM d">[{{todayDate | date:'MMMM d'}}]</option>   
<option value="yyyy-MM-ddTHH:mm:ss">[{{todayDate | date:'yyyy-MM-ddTHH:mm:ss'}}]</option>
<option value="h:mm a">[{{todayDate | date:'h:mm a'}}]</option>
<option value="h:mm:ss a">[{{todayDate | date:'h:mm:ss a'}}]</option>      
<option value="EEEE, MMMM d, yyyy hh:mm:ss a">[{{todayDate | date:'EEEE, MMMM d, yyyy hh:mm:ss a'}}]</option>
<option value="MMMM yyyy">[{{todayDate | date:'MMMM yyyy'}}]</option> 
</select>