No, Einstein's equivalence principle does not ignore time dilation. In fact, the equivalence principle is a fundamental concept in general relativity, which incorporates both gravitational effects and the effects of acceleration.
The equivalence principle states that there is no experiment one can perform within a small, freely falling laboratory that would enable an observer to determine their uniform motion with respect to the gravitational field. In other words, the effects of gravity cannot be distinguished from the effects of acceleration in a small region of space-time.
Time dilation is a consequence of the curvature of space-time caused by mass and energy. In the presence of a gravitational field, clocks at different locations experience differences in the rate at which time passes. This effect is known as gravitational time dilation.
The equivalence principle implies that an observer in a gravitational field experiences the same effects on time dilation as an observer in an accelerated frame of reference. This principle is a cornerstone of general relativity and is essential for understanding the relationship between gravity and the curvature of space-time.