Documentation:
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The Daily Schedule Component is for controlling content visibility based on a repeating daily schedule.

A) Start Time

Here you set the time at which the Preset will become active each day.

B) Stop Time

Here you set the time at which the Preset will become inactive each day.

C) Total Time

Here you can see the total number of hours and minutes that the Preset will be active each day.

D) Overnight

When the start time is larger than the stop time the Preset will be active overnight.

See here for more details.

E) 24 Hours

When the start time equals the stop time the Preset will be active for 24 hours.