Not within the hub's settings, but there's other ways.
You can connect the hub to a timer socket such as this. Tesco do an identical one under their own brand as well. I have my hub connected to one purely to avoid wasting energy overnight. However, it means that "out of hours" YOU can't use the internet, not just the kids.
Buy your own router or mesh wifi system - most allow reasonable parental controls, although you'd need to set up each device individually, and unless you have other wireless problems you probably don't want to spend the £40-100 on that.
If you're determined enough, there are parental controls built in (or freely available) for Android, iPhone, Mac and Windows. But that means you need to set these up on every device, and be sufficiently tech savvy enough to set them up in a way that the kids can't get round them. There are also "paid for" options as well, but again you need to get it installed and configured on all devices.
And finally, if they've got phones, if you do one of the things above, you need to think how you'll stop them using mobile data and/or setting the phone as a wifi hotspot for a tablet or computer. Kids these days are VERY tech savvy.
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Like "spell" I think there is something to be said for not relying on tech to solve issues that are essentially about personal relationships. Tech may assist but it can never be a solution.
However you might want to consider what is said in this thread about the use of the VM Connect App and software solutions involving using your own router in conjeunction with the VM Hub. But nothing is tech kids proof.