Partially revert the change made in https://github.com/go-gorm/gorm/pull/6311 that appears to have broken this for us and at least one other person.

schema/field.go

@@ -12,6 +12,7 @@ import (
 	"time"
 
 	"github.com/jinzhu/now"
+
 	"gorm.io/gorm/clause"
 	"gorm.io/gorm/utils"
 )
@@ -922,7 +923,7 @@ func (field *Field) setupValuerAndSetter() {
 					if !reflectV.IsValid() {
 						field.ReflectValueOf(ctx, value).Set(reflect.New(field.FieldType).Elem())
 					} else if reflectV.Kind() == reflect.Ptr && reflectV.IsNil() {
-						return
+						field.ReflectValueOf(ctx, value).Set(reflect.New(field.FieldType).Elem())
 					} else if reflectV.Type().AssignableTo(field.FieldType) {
 						field.ReflectValueOf(ctx, value).Set(reflectV)
 					} else if reflectV.Kind() == reflect.Ptr {

tests/go.mod

@@ -1,6 +1,8 @@
 module gorm.io/gorm/tests
 
-go 1.18
+go 1.21
+
+toolchain go1.23.2
 
 require (
 	github.com/google/uuid v1.6.0