Yes, you can have your suitable time range. You can do this by enabling "Enable Delivery Time" settings and by selecting the time range in Delivery Schedule > Edit Delivery Schedule > Time Slot section in the Order Delivery date on the admin side.

select the Delivery From Time and Delivery To Time from their respective drop boxes. In this manner, the time range will be created and time sliders will be displayed on the calendar with the set time range on the checkout page.