yes but it depends on how you have entered/formatted the third cell

if it is done as text and using 24 hour naming then if(third cell >"1400",first cell,"") works
if it is done as number and using 24 hour naming then if(third cell>1400,first cell,"") works (note no "" around the criteria)
if it is done as time and no date is entered then Excel defaults to 0/1/1900 date and 2pm is 14/24 so if(third cell>(14/24),first cell,"") works
if it is done as time and date is entered, and assuming you dont care about the day then if((third cell - int(third cell))>(14/24),first cell,"") works