If create_time is of type TEXT with valid date value, it’ll be easier to proceed with the change as follows (Be advised to first do a table dump as a backup):
-- Create a temporary TIMESTAMP column
ALTER TABLE AB ADD COLUMN create_time_holder TIMESTAMP without time zone NULL;
-- Copy casted value over to the temporary column
UPDATE AB SET create_time_holder = create_time::TIMESTAMP;
-- Modify original column using the temporary column
ALTER TABLE AB ALTER COLUMN create_time TYPE TIMESTAMP without time zone USING create_time_holder;
-- Drop the temporary column (after examining altered column values)
ALTER TABLE AB DROP COLUMN create_time_holder;