@Dolores see my original post though, it seems like there is a strong suggestion to avoid using template triggers unless there is no other way to accomplish something (see the original post linked to for the reason why which involves the template being re-rendered every time any state on the system changes). I do suspect I could make it work with a template trigger similar to what you posted but probably with a little more manipulation of the data e.g. some strftime etc.
I took a look at @PhyberApex’s solution which is something I actually had considered. To summarize it is to create an automation which is triggered once every minute ("/1") and then create a condition to the automation which checks the time of the sensor against the current time. This does avoid using a trigger template though the engineer inside me thinks there has got to be a less “wasteful” way than running an automation every minute which will then be blocked by a condition 1,439 times a day. If it turns out that’s not the case though this may be a “less wasteful” solution than a trigger template which renders every time any state on the system changes.
Anyone have an explanation for why trigger templates are re-rendered any time any state on the system changes and not just when one of the states mentioned in the template changes? I must be missing something as that seems unnecessary.
For those doing additional research on this I have since turned up a couple more older questions about this here and here. One suggests using a trigger template as the solution, the other more-or less as indicated above where the check is a condition to a trigger which runs more frequently.