No, you can not change the time in MT4 trading platform.

The time of the MT4 is always set to GMT+2(GMT+3 for summer time).

Server time 00:00 is adjusted to the closing time of the NY market’s closing time. This is to avoid some candlesticks to appear on Sundays.

When the NY stock exchange closes, MT4 trading platform will show 00:00 as time.

This is the same for MT5 trading platform too.