You can switch between showing the timecode, the total elapsed time, and the current rhythmic position of the playhead expressed in bars, beats, and ticks in both the mini transport in the toolbar and the Transport window.
Procedure
In either the mini transport in the toolbar or the Transport window, click the transport display until the content you want appears.
In the Transport window, this is the display on the right.
Result
Each time you click in the mini transport display, it cycles through showing the rhythmic position of the playhead, elapsed time, and the timecode.
In the Transport window, it only switches between the timecode and elapsed time, as the rhythmic position of the playhead is shown permanently on the left of the window.
Tip
You can change what is shown in the mini transport by default for all future projects on the Play page in Preferences.