Try =IF(N2="","",IF(OR(N2<TIME(8,0,0),N2>=TIME(19,0,0)),"Out of Hours","In Hours"))
This conditional checks if time is before 08:00 (N2<TIME(8,0,0)
) or after 19:00 (N2>=TIME(19,0,0)
). If either is true, then it's Out of Hours. Otherwise, its In Hours