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Yes. I set the image by default to take up 50% of the space available in the meta info area.
Add the following to Events Settings > Advanced > Page Header Code Injection for the events page. Please see per-page code injection.
<style>   .twc-eventitem-thumbnail {        width : 100%;          }        </style>  
I'll keep this in mind as a feature request but I have no firm plans or timeline to possibly do this. My code is not altering the aspect ratios of images at this point. Also a note for those that follow on. It seems SS is not providing the selected aspect ratio selected in settings to the events page pages.

Please see Events Page Event Thumbnail Add.
Let us know how it goes.

Thank you for the link it helps in beginning to understand the effect.
Where were you thinking you want the image to appear? As part of the meta information on the left? Or, as part of the event content on the right.
I know of no code that actually does this but we need to know where in order to begin to formulate any potential solution.

To remove the time, use this CSS
li.eventitem-meta-item.eventitem-meta-time.event-meta-item { display: none !important; }  

.eventitem-meta .event-meta .event-meta-date-time-container { display:none; }

Try this Custom CSS:
.event-meta-item > time { display:none; }

Hi!
I'm trying to find a way to have the word 'map' in my event description to be underlined so that it is clear that it's a link to google maps. Any ideas? Squarespace could improve its accessibility...

Life saver! Thanks @paul2009