SQL Server 2022

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CREATE TABLE ContentLog ( LogRecordData varchar(200) );
INSERT INTO ContentLog (LogRecordData)
VALUES 
  ('InactivationDate: NULL -> 2023-12-20 07:55:29')
, ('InactivationDate: NULL -> 2024-01-02 21:32:43');
2 rows affected

SELECT 
  LogRecordData
, CHARINDEX('-> ', LogRecordData) AS [-> Location]
, CONVERT(datetime2(0), SUBSTRING(LogRecordData, CHARINDEX('-> ', LogRecordData) + 3, 19)) AS [The Date]
FROM ContentLog;


LogRecordData
-> Location
The Date


InactivationDate: NULL -> 2023-12-20 07:55:29
24
2023-12-20 07:55:29

InactivationDate: NULL -> 2024-01-02 21:32:43
24
2024-01-02 21:32:43

LogRecordData	-> Location	The Date
InactivationDate: NULL -> 2023-12-20 07:55:29	24	2023-12-20 07:55:29
InactivationDate: NULL -> 2024-01-02 21:32:43	24	2024-01-02 21:32:43