Dynamic transposing rows to columns using awk based on row value

GNU awk solution:

awk 'BEGIN{ 
         FS = OFS = ",";
         PROCINFO["sorted_in"] = "@ind_num_asc";
         print "TimeStamp,data_0,data_1,data_2,data_3,data_4" 
     }
     NR > 1{ a[$1][substr($2, 6) + 1] = $3 }
     END{ 
         for (i in a) { 
             printf "%s,", i;
             for (j=0; j<=4; j++) printf "%s%s", a[i][j+1], (j == 4? ORS:OFS) 
         }
     }' file

The output:

TimeStamp,data_0,data_1,data_2,data_3,data_4
04:19:12,4,6,8,10,12
04:19:14,5,6,,7,8

Similar to Roman's answer, but hardcodes less about the contents of the file

awk -F, -v OFS=, '
    NR > 1 {data[$1][$2] = $3; blocks[$2]}
    END {
        PROCINFO["sorted_in"] = "@ind_str_asc"

        # header
        printf "TimeStamp"
        for (block in blocks) {
            printf "%s%s", OFS, block
        }
        print ""

        # data
        for (ts in data) {
            printf "%s", ts
            for (block in blocks) {
                printf "%s%s", OFS, data[ts][block]
            }
            print ""
        }
    }
' file

TimeStamp,data_0,data_1,data_4,date_2,date_3
04:19:12,4,6,12,8,10
04:19:14,5,6,8,,7

Note that your sample data uses "data" and "date" both.