That section of the template is only dealing with the reboot after the deployment finishes, so the deployment would proceed according to the scheduling of the deployment task. If you choose the specified date and time option for the reboot and the deployment is not finished by that point, the reboot will not happen, so you would need to manually control the reboot after that. Does that help?
Thanks for explanation. This behaviour I have expected.
Wouldn't better and clearer to change the wording of this setting to "On exact date and time?"