Yes, but in the game the time of day didn't scale correctly.
Let's say you decided to run a 2.4 hours Le Mans (or 4.8 hours, 24 minutes, I didn't matter, it was broken). The passage of time should adjust so that you'd see the whole 24 hours transitions compressed in the interval that you selected for the race. On pCARS 2 that didn't happen because the scaling was wrong: you could see the nightfall two times on the same event that should simulate just 24 hours.
I played the game for the last time more than a year ago, but I remember it was so bad that you could see the day-night cycle more than two times on the same race.
I did just a quick search and, as you can see, more people
noticed and complained. The issue appears to be "reported" and all we can hope is that time of day scaling is put-some-random-percentagem better than it was on the new game.