Time on the Taskbar Not Correct

I have installed Manjaro Xfce and have been using it for about 3 days. I noticed that the time on the Date/Time at the right end of the task bar is set on universal time. Checking Settings Manager/Manjaro Settings/Date & Time, everything appears to be correct. Right click on time on the task bar then properties, the time zone is correct. (Wish I could change the date display to mm/dd/yyyy).

What do I need to do to fix the time display?

Hi and welcome to the Forum!

What happens if you leave this option about timezone blank? Normally, it should pick up the timezone you have set in Manjaro Settings Manager → Time and Date.

Right click on the panel clock → Properties → under Clock Options select Custom Format and set something like this for the custom format %m/%d/%Y, %R.
More information about custom formats and their meaning can be found here:
https://docs.xfce.org/xfce/xfce4-panel/clock#label_and_tooltip_markup