The problem I'm trying to solve with this idea is that the internal release date can only be a date. This is challenging for me and my stakeholders as we have to leverage the external release date as our primary value. The reason being, I am an advocate for ranges based on the confidence of our engineers. So, having an internal release date only being a date, isn't helpful.
I found a way to accomplish this using a calculation column! I wrote an equation to determine if it should show the exact date, month, or quarter.
If(datediff(today(),field("projected 1st Rollout"),"day")>=60, "Q" + quarter(field("projected 1st Rollout")) + dateformat(field("projected 1st Rollout"), " %Y"), If(datediff(today(),field("projected 1st Rollout"),"day")>=30 and datediff(today(),field("projected 1st Rollout"),"day")<=59, dateformat(field("projected 1st Rollout"), "%B, %Y"), dateformat(field("projected 1st Rollout"), "%b %-d, %Y")))