The time icon always picks the first condition that matches, but it is not always the best match.
For example, if you specify opening hours on exit 1, closing hours on exit 2, a holiday list on exit 3, then the holiday list will never be matched as a condition as it will match either exit 1 or exit 2.
Instead, use something like this:
1. Holiday list
2. Customer defined list (e.g. numbers that are whitelisted)
5. Opening hours
8. Closing hours
This is a correct flow that allows to edit or insert something between opening and closing hours for example.