The time during the day for a refund release by the IRS can vary. Also, once the refund is sent it can take a day or more to reflect in your bank account.
Here is more information from an IRS FAQ:
What is happening when Where’s My Refund? shows my refund’s status as approved?
We’ve approved your refund. We are preparing to send your refund to your bank or directly to you in the mail. This status will then tell you when we will send the refund to your bank (if you selected the direct deposit option). Please wait 5 days after we’ve sent the refund to check with your bank about your refund, since banks vary in how and when they credit funds. (It could take several weeks before you receive a mailed refund check.)
https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions
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