That would be a better use of the time and money. And the service to Wilmslow takes about half an hour so you could turn it round at Wilmslow train station. Do a full circuit and there's your hour.
The 88 service is timetabled to take 31 minutes from Knutsford Bus Station to Wilmslow Bank Square via Wilmslow Station. That's quite a generous timing and usually the buses take 3-4 minutes less than that. In the evenings when there's less traffic you could probably do something like:
Knutsford Bus Station: 19:15
Longridge: 19:22
Mobberley Town Lane: 19:26
Wilmslow Station: 19:37
Wilmslow Bank Square: 19:39
It wouldn't need to go to the station twice, it could pick up any Knutsford bound passengers at the station before it goes to Bank Square.