allow day enable few lot month offerings option options product scenario select separate sku variants variation variations year

Can I have more than 3 variation that tell more.....or can I use the SKU variation?

I am already using the 3 variations to allow people to select Day, Month, Year, and I need another option to select Time for a few of my offerings. Is this possible? Or do I just need to have a separate product, which is a lot of work.

If you enable the SKU variants as well, then you can have 3 variation options. So yeah, that will work with your scenario.