So, let's say you want to have your profile working from 11:25 to 13:35 daily.
You then need to provide that time frame in the "Restrict to time range" as follows:
That will automatically trigger the "Exclude time range" to look like this:
The "Exclude time range" could be more self-explanatory and shows something like From 11:24 to 13:36, but it does not. It just tells you that starting at 11:00 the profile is excluded (it does not say that at 11:25 it starts to work) and then, starting at 13:36 the profile is excluded again.
To have a clearer understanding it is needed to check the "Restrict to time range" graph as well as the following info from the probe's Raw Configure (schedules/YourSchedule/recurrent_event_spec):
So, from here we can see that our profile is excluded from 13:36 to 11:24.
In a nutshell, in this scenario our profile will run daily from 11:25 to 13:35.