This has nothing to do with awk:
$ date -d today +%d/%m/%Y %H:%M
date: extra operand ‘%H:%M’
Try 'date --help' for more information.
The date command takes one argument, but you are giving it two: +%d/%m/%Y and %H:%M. The shell splits arguments on whitespace, so if you want that to be treated as a single argument, you need to quote it:
$ date -d today "+%d/%m/%Y %H:%M"
19/07/2024 11:14
So to get your awk command to work, you could do:
$ awk -F, '{system("date -d " $1 " \"+%d/%m/%Y %H:%M\"")}' file.log
19/07/2024 11:15
Or, alternatively, escape the space:
$ awk -F, '{system("date -d " $1 " +%d/%m/%Y\\ %H:%M")}' file.log
19/07/2024 19:30
Of the two, I prefer the quoting since that is also what you should do in the shell itself, so is a good habit to get into. Both should work fine here though.
You probably don't need this though. Since you're using date -d, you're probably on a GNU system and have GNU awk (gawk), so you can use its own date functions. See https://www.gnu.org/software/gawk/manual/html_node/Time-Functions.html#Time-Functions.