You should be able to use the ntpconfig command to set it up to sync with an ntp server, or alternatively use the tzconfig command to manually set the time zone. These should be listed in the appliance menu.
Loop1 Systems: SolarWinds Training and Professional Services
Another option is to set the time on the hypervisor, LEM will by default try to sync guest to host OS. There seems to be some delay in this approach especially on first boot of a new LEM eval, so you might check and see if it's worked itself out (or give it time if you've just set the hypervisor time).
If you want to skip that and sync it directly, stick with ChrystalT's advice