If you are only grouping dates, you can just set this property.
this.gridGroupingControl1.ChildGroupOptions.CaptionText = "{CategoryCaption}={Category:MM/dd/yyyy}";
But if you need to support grouping things other than dates, then you cannot just set this property. Instead, you need to handle the QueryCellStyleInfo and conditionally format th ecaption depending upon the caption being provide in QueryCellStyleInfo.
private void gridGroupingControl1_QueryCellStyleInfo(object sender, GridTableCellStyleInfoEventArgs e)
{
if(e.TableCellIdentity.TableCellType == GridTableCellType.GroupCaptionCell)
{
GridCaptionRow cap = e.TableCellIdentity.DisplayElement as GridCaptionRow;
if(cap.ParentGroup.Category is DateTime)
{
e.Style.Text = ((DateTime)cap.ParentGroup.Category).ToString("MM/dd/yyyy");
}
}
}