> Have you ever run in to issues sharing your interpretation?

Not really.

Of course, having an analog Apple Watch face does not mean that don't know the exact time for the cases when I need to know the minutes, e.g. for a train departure time or things like that. It's just a mental calculation that I don't normally perform when I quickly look at my watch.

I would agree that people who need to know the time up to a minute normally won't ask because they likely have their own device showing it; and if they don't, they most likely don't need to know it up to a minute. But if they indeed do, I don't have problems with converting the watch time to HH:MM.