I would expect the partial day bookings to show as shorter bars and I see this in my test instance. There is also a tooltip to show the duration if it is your own booking or a booking you approved. (We don't show the tooltip if you are looking at another employee's booking.)
So I'm a little confused as to why you aren't seeing the same. Which browser are you using?
My comment is related to the Company Calendar, which would be viewing another employee's time off.
My example would be our Front Desk receptionist needing to view all users time off bookings. I've had a support ticket open for this before. Self-Hosted you could hover to see this info, now you cannot.