Don't quote me on this but if memory serves me molly males develop their gonopodium at around 3 months of age. So I would imagine other livebearers like platies would be around the same. I haven't kept livebearers except for Endlers since the 80's so I'm pretty rusty when it comes to information like that about them.
And for the record, no they can not retract their gonopodium.