Not only that, but The Kids and Teens have School around the time this Presentation is supposed to be happening, in North America at least
I believe this time fits Europe the best. I'm in Central time, so this presentation will start at 9 for me. Europe is 7 Hours ahead of me, and Japan is 14. This would put the time at about 4PM and 11PM for Europe and Japan respectfully.
In any case, Remember that Steve was actually revealed at the same timeframe this October 5th Presentation is supposed to take place, so to be honest, I'm not sure how much info we can gather from this, since I think it's well agreed that Steve was the biggest character reveal in the game.
I think the the more telling things about the character rather than the time would be them waiting to a Separate Presentation to reveal them, when the Direct was right here, and of course being the Last Fighter.