For eg I have ISO date time as : 2020-03-03T11:07:41.1708478Z
Converting using strtotime function
$dateTime = date("Y-m-d H:i:s.u",strtotime('2020-03-03T11:07:41.1708478Z'));
Result : 2020-03-03 11:07:41.000000
In above result you can see milliseconds are gone.