You'll want to obtain a timedelta and take the total_seconds method to get seconds after midnight. So you can parse to datetime first, and subtract the default date (that will be added automatically). Ex:
#1 - via datetime
import pandas as pd
df = pd.DataFrame({'time': ["15:41:28:4330"]})
df['time'] = pd.to_datetime(df['time'], format='%H:%M:%S:%f')
df['sec_after_mdnt'] = (df['time']-df['time'].dt.floor('d')).dt.total_seconds()
df
time sec_after_mdnt
0 1900-01-01 15:41:28.433 56488.433
Alternatively, you can clean your time format and parse directly to timedelta:
#2 - str cleaning & to timedelta
df = pd.DataFrame({'time': ["15:41:28:4330"]})
# last separator must be a dot...
df['time'] = df['time'].str[::-1].str.replace(':', '.', n=1, regex=False).str[::-1]
df['sec_after_mdnt'] = pd.to_timedelta(df['time']).dt.total_seconds()
df
time sec_after_mdnt
0 15:41:28.4330 56488.433