Description:
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When a value between 24 and 99 is in date/time string evaluated by DateTime:createFromFormat , it handles as valid and resulting object is Date + hours % 24 . So 36:00 is treated as date + 1 day 12:00

Expected Result:  Evaluates to false.

If this is by design, it should be very clearly documented. Since 100:00 returns false, this does not seem intentional.

Test script:
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$time="30:29"; 
$date =  DateTime::createFromFormat("H:m", $time);
echo $date->format(DateTime::W3C);