Is there a way to restore an email message utilizing Time Machine backup?

You must restore the entire ~/Library/Mail/V10 folder (or, just the account folder if you can determine which it is) to another location. Then you can import the lost messages. The difficulty may be identifying which one is the one to restore. If you know the folder it was in, you can import that, then look through the Import mailbox for the message and move it to where you want it. You can then delete the Import mailbox. If you go into your MailData subfolders and their mailbox folders, you can see that the messages are just named with unique IDs. You can use the Preview in Finder and/or QuickLook to see what's in the file. That works inside Time Machine, too.

If your Library doesn't show in your home, hold down the Option key and choose Library from the Go menu in Finder. Then, Browse Time Machine backups.

If you find the single message in Time Machine and restore it to the original location (just clicking Restore), you will have to rebuild the mailbox in order to see the message in Mail. I would ctrl-click on the message and choose Restore to… to save it in another location, then import that message into Mail.

Apple got rid of the easy way many years ago. Probably because it didn’t work consistently.

I use the app MailSteward to backup yu email ever since Apple removed the email backup user interface with TM.