As a workaround, we had to manually update step attributes of increment input elements.
https://github.com/Megabit/Blazorise/blob/master/Source/Blazorise/wwwroot/timePicker.js#L156
This should work automatically with
picker.set("hourIncrement", options.hourIncrement.value);
picker.set("minuteIncrement", options.minuteIncrement.value);