Probably the pre-download time. becouse the "week" for MHW start on Friday at 0:00 probably the night from the 9th to the 10th UTC will be the relase time
imo it is the pre-load time: My two cents about Pre-load/release Exact time Preload time
Font: The amazon.com MHW pc page show it as a delivery time:
Release time
Font: The official schedule let start every "week" on fryday 0:00 UTC
http://monsterhunterworld.com/eventquest/MHW_EventQuest_EN.pdf
Let me know what do you think about it! Cheers!
This mean
Pre-load time 12.00 AM aug 7th pst
Release time 5.00 PM aug 9th pst
Maybe i'm wrong for the release time: For my time zone the release day is aug 9th. With this teory it will be aug 10th. Maybe just to be "consistent" the release time will be 12.00 AM pst