Based on what you described, below is how the code should look like although I'm not sure what you intend is. Anyway, you should only include hours and ampm for comparison.
Dim date1 As Date = #7 AM#
Dim date2 As Date = #10 AM#
Dim date3 As Date = #3 PM#
Dim date4 As Date = #4 PM#
Dim date5 As Date = #2 PM#
Dim TimeOfDay = DateTime.Now.ToString("HH tt")
If TimeOfDay = date5 Then
TextBox1.Text = "here"
TextBox6.Text = "here"
ElseIf TimeOfDay = date4 Then
TextBox2.Text = "here"
TextBox7.Text = "here"
ElseIf TimeOfDay = date3 Then
TextBox3.Text = "here"
TextBox8.Text = "here"
ElseIf TimeOfDay = date2 Then
TextBox4.Text = "here"
TextBox9.Text = "here"
ElseIf TimeOfDay = date1 Then
TextBox5.Text = "here"
TextBox10.Text = "here"
End If