Is your VO attribute Timestamp? If not, make it Timestamp.
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In my app (Jdeveloper 188.8.131.52.0), I have an Entity with a Date field.
You can check exact attribute type in source of your entity.
If this is java.sql.Date then this is expected behaviour.
You need to change attribute to: oracle.jbo.domain.Date, oracle.jbo.domain.Timestamp or java.sql.Timestamp
If attribute type is java.sql.Date then you will lose time component regardless of approach which was used to assign value to this attribute.
Changing field type from Date to Timestamp fixed my issue.
Thank you all for your answers