The later, the better.
I don't see any issues with 9pm onwards for events, seeing as most people work during the day.
Hopefully the second banish time can also be made later than 3pm.
Ragnarok: 6-6:50; Guild Warfare: 7-7:30 (No Change)
Ragnarok: 5-5:50; Guild Warfare: 6-6:30 (1 hour earlier)
Ragnarok: 7-7:50; Guild Warfare: 8-8:30 (1 hour later)
Ragnarok: 8-8:50; Guild Warfare: 9-9:30 (2 hours later)
The later, the better.
I don't see any issues with 9pm onwards for events, seeing as most people work during the day.
Hopefully the second banish time can also be made later than 3pm.